V.P. MALHOTRA Vs. P.S. TANEJA

JUDGEMENT

(1.) V .P. Malhotra, an ex-Director of M/s Unison Textiles Pvt. Ltd., along with Sanjeev Malhotra, ex-Director of M/s. Unison Textiles Pvt. Ltd. and the Company itself have filed this petition under section 482 Cr.P.C. praying that the complaint filed by the respondent - P.S. Taneja, Manager, Syndicate Bank, Ludhiana under Sections 405, 407, 408 and 420 read with Sections 34 & 120-B I.P.C. as also the summoning order passed by the Judicial Magistrate, Ludhiana be quashed. Notice of this petition was given to the respondent who chose not to appear on 6.7.1994. The order recorded on the said date reads thus :-

(2.) AFTER admission, the matter came up for hearing today and the respondent P.S. Taneja has chosen not to appear today as well, nor is any one representing him in the matter. There is no choice in the matter except to treat the contents of the petition as true being not controverted.

(3.) IN view of the facts that have been noticed above, it is argued that there could not be a case of cheating or misappropriation by the petitioners. At the most, it was a case of non-return of the loan which provided adequate remedies and which remedies have already been taken by the respondent-Bank.