SREI INFRASTRUCTURE FINANCE LTD. Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) Heard Counsel for the petitioners, counsel for the opposite party No. 2 and counsel for the State.

(2.) The petitioners, in this instant application, have prayed for quashing the entire criminal proceeding, including the order of cognizance dated 15.02.2006 passed by the learned Judicial Magistrate, 1st Class, Hazaribagh, in Complaint Case No. 78 of 2005 (T.R. No. 707 of 2006), whereby the petitioners have been directed to face trial for the offences under Sections 406/420/120B of the Indian Penal Code.

(3.) From the facts of the case, as explained by the learned Counsel for the petitioners, it appears that the opposite party No. 2 had filed the complaint against the petitioners, who happen to be the Directors and office bearers of the Finance company, namely, SREI Infrastructure Finance Ltd., having its office at Kolkata, on the allegation that the complainant/opposite party No. 2, intending to purchase pay loaders, approached the petitioners' finance company through its Branch Manager, In-charge, namely, the present petitioner No. 3, for finance. In accordance with the terms add conditions, the complainant deposited margin money of Rs. 2,54,728/- by way of a cheque with the finance company and as against such deposit, the finance company was expected to delivery of the pay loaders to the complainant. The delivery of the pay loaders was not made within the period stipulated, on account of non-payment of the balance of the price of the pay loaders. The complainant had inferred that the finance company and its office bearers have cheated him and have criminally misappropriated his margin money of Rs. 2,54,728/-.