K JANAKI MANOHARAN Vs. GAYATRI SUGAR COMPLEX LIMITED

JUDGEMENT

(1.) This is a petition filed under Sec. 482 of the Code of Criminal Procedure, 1973 to quash the proceedings in C.C.No. 484 of 1999 on the file of the learned IVth Metropolitan Magistrate, Hyderabad. The petitioners herein are arrayed as accused No. 4 and 5 respectively in the said C.C.

(2.) M/s. Gayatri Sugar Complex Limited filed C.C.No. 484 of 1999 on the file of the learned IVth Metropolitan Magistrate, Hyderabad against M/s. Suryatronics Private Limited represented by its Chairman and Managing Director, Chairman and Managing Director in person and its other Directors for the offence punishable under Sec. 138 of the Negotiable, Instruments Act, 1881 (for short 'the Act'). The petitioners herein are arrayed as Accused No. 4 and 5 in their capacity as Directors of M/s. Suryatronics Private Limited.

(3.) It is the case of the complainant that it had invited tenders for design, engineering, manufacturing and supply of clarification plant, evaporation and boiling plants, cooling and part of curing equipment for their sugar plant in Nellore District. The first accused company responded to the tender and pursuant to the discussion, the contract has been awarded to the first accused company for the said purpose of designing, engineering, manufacturing, supplying the machinery in terms of the contract. The agreement was entered into on 15/03/1995. In terms of the agreement, the contract price was agreed to be a sum of Rs. 624.00 lakhs. In addition to the said agreement, the complainant entered into a se-cond agreement with accused No. 1 Company on 15/03/1995 relating to procurement of certain items of equipment and machinery required for the establishment of the Sugar plant. The contract price as per the said agreement was Rs. 356.00 lakhs.