(1.) Heard the parties. This application has been filed for quashing of the entire criminal proceedings of P.C.R. Case No. 79 of 2008, including the order dated 8.7.2010, whereby and whereunder cognizance of the offences punishable under Sections 406 and 420 of Indian Penal Code has been taken against the petitioner.
(2.) Before adverting to the submissions advanced on behalf of the parties, case of the complainant needs to be taken notice of.
(3.) It is the case of the complainant that the complainant, in terms of the agreement entered into in between the petitioner and the complainant, did supply 758 Wagons of stone-chips to the petition during period from 2.2.2007 to 2.9.2007. Thereupon, part payment was made but a sum of Rs. 44,37,000/- remained to be paid for which promise was made that the same would be paid by 3.10.2007 but the petitioner failed to make payment.