MADHUMILAN SYNTEX LTD. Vs. SYNDICATE BANK

JUDGEMENT

(1.) The applicants have filed this petition under Section 482 Cr.P.C. aggrieved by the order dated 23.6.2007 passed by Judicial Magistrate First Class Indore in Criminal Case No. 1229/04 whereby ordered for framing of charge under sections 406, 420, 120B of IPC against the applicants.

(2.) Brief facts of the case are, the applicants no. 2 to 6 are the office bearers and Director of the registered company Madhumilan Syntex Ltd. (applicant no. 1), having its factory at Dewas and the De Oil Cake (in short, 'DOC') for export purpose. The applicant-company for its business was having the loan credit facility from the respondent-bank and with other four banks, the lead bank is State Bank of India and as per the agreement also hypothecated the prepared DOC for its export as per the hypothecation agreement. The concerning articles were transported from Dewas to Kandla Seaport and stored there for export in the Kandla Seaport. It is alleged in the private complaint filed by the bank concerned that without any intimation given to the bank the applicants have misappropriated the articles which were already hypothecated with the bank and sold them in the market at Kandla. On these hypothecated articles the applicant-company had received a sum of Rs. 11, 24, 92, 251/- from the bank as credit facility. When the concerning complainant bank came to know about this misappropriation of the articles which were hypothecated to the bank concerned, thereafter the complainant bank has given a notice to the applicant party and thereafter filed a private complaint in the Court of JMFC at Indore for the alleged misappropriation and cheating punishable under Sections 406 and 420 IPC. The learned Trial Magistrate after taking prima facie statement of the witnesses under Sections 200 and 202 of Cr.P.C. registered the case against the applicants for the offence punishable under sections 420, 406 and 120B of IPC. Thereafter, the appropriate summons have been issued for the presence of the applicants/accused. After the presence of the accused persons, as per the procedure prescribed under Section 244 Cr.P.C for trial of a private complaint before the charge statement of the complainant and other witnesses has been recorded by the trial Court and an opportunity for cross-examination has also been given to the applicant/accused persons. After the close of evidence before charge, after bearing both the parties the learned Trial Magistrate by the impugned order dated 23.6.2007 came to the conclusion that a prima facie case for framing of the charge against the applicant for the offence punishable under sections 420, 406 and 120B of IPC is made out and ordered for framing of the aforesaid charges. Aggrieved by which the applicants had preferred a criminal revision no. 699/07 before Tenth Additional Sessions Judge, Indore. The learned Revisional Court by order dated 27.10.2007 dismissed the revision petition and affirmed the order of framing of the charge passed by the trial court. Hence, this petition under section 482 Cr.P.C. on behalf of the applicants.

(3.) Having heard the learned counsel for the applicants as well as learned counsel for the respondent and perused the record.