(1.) Heard learned counsel for the parties.
(2.) In this application the petitioner has prayed for quashing the entire criminal proceedings in connection with C-1 Case No. 192 of 1998 including the order dated 07.04.1998 passed by the learned Chief Judicial Magistrate, Jamshedpur whereby and where under cognizance has been taken for the offence punishable under Sections 406/34 of the I.P.C.
(3.) It has been stated by the learned counsel for the petitioner that the petitioner was at that point of time Chairman and Managing Director of Indian Steel & Wire Products Ltd., Jamshedpur. It has been submitted that the dispute is purely civil in nature since there is no entrustment of property, no case under Sec. 406 of I.P.C. is made out against the petitioner. He further submits that in similar circumstances, in the case of General Manager (Works), Vice President (Corporate) and Senior Manager(Marketing and Sales), the criminal prosecution against those persons were quashed vide order dated 05.01.2012 in Criminal Miscellaneous No. 5298 of 1999(R). He further submits that the case of the petitioner stands on better footing to those whose cases have been quashed by this Court.