HASMUKH TARACHAND SHETH Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. With the consent of learned counsel appearing for the parties, heard finally.

(2.) The petitioners have approached this Court seeking quashing of the FIR registered by the Economic Offences Wing (EOW) against them under Ss. 406, 409, 418, 420, 465, 467, 468, 471, 474 r/w 120-B of the Indian Penal Code (hereinafter referred to as, "the IPC"). Respondent No.2 is the complainant at whose behest, the FIR stood registered.

(3.) Respondent No.2 submitted a complaint on 15 th June, 2016, leading to registration of an FIR, claiming that he had entered into a transaction with the company of the petitioners for supply of paper and the company of the petitioners manufactures packing material for Gutka products. It was the case of respondent No.2 that while some payments were made for supply of papers, an amount of Rs.7,17,09,029.00 remained unpaid. Cheques were issued on behalf of the company, but the same were bounced. When the cases were filed under the provisions of the Negotiable Instruments Act, 1881 (hereinafter referred to as, "the NI Act"), the stand taken by the petitioners was that they were not directors of the company. According to respondent No.2, by indulging in aforesaid activities, the petitioners had cheated him and indulged in criminal breach of trust.