ELECTRO STEEL LTD. Vs. STP LTD.

JUDGEMENT

(1.) Petitioners have approached before this court by filing an application under Sections 397/401 read with Section 482 of the code of criminal procedure praying for quashing of the proceedings of Complaint Case No. C/10607 of 2014 under Sections 420/406/417/418 read with Section 120B and 34 of the Indian Penal Code pending before the Learned Metropolitan Magistrate, 19th Court at Calcutta.

(2.) The petitioner, no.1 is a company incorporated under the relevant provisions of the Companies Act, 1956 under the name and style of Electrosteel Steel Limited (for sort said company). Petitioner No. 2 was the non-Executive Chairman of the petitioner no.1 company, petitioner no.3 was the Director and petitioner no.4 was the non-Executive Director of petitioner no.1 company.

(3.) The brief facts giving rise to the present application are as followes:-