- (1.) This application has been filed under Section 482 of the Code of Criminal Procedure, 1973 for quashing of the proceedings in Cr No. 240/99 pending before the Learned Judicial Magistrate, Sealdah, South 24 Parganas arising out of Maniktala Police Station Case No. 20/99 dated 2.2.99, under Section 420/120B of the Indian Penal Code.
(2.) The scaletal picture of the prosecution story is as follows : The petitioners are the Directors of M/s. Shree Hanuman Foundry and Engineering Company Limited (hereinafter referred to as 'M/s. Hanuman'. The Company has been engaged for manufacturing CI Casting and other products from pig iron and holds considerable good reputation in the market. That M/s. Hanuman was aillegedly approached by the de-facto complainant herein namely Mr. Rabindra Singh, Managing Director of M/s. ISC Magnetics (P) Ltd. The Managing Director of ISC proposed to M/s. Hamuman that the de-facto complainant company was willing to supply the said company with pig iron at long credits spreading over within six to nine months. It had further agreed that the credit limit might be up to 1.5 crores.
(3.) The M/s. ISC Magnetics Private Limited started supplying pig irons to M/s. Hamuman on and from 22nd October, 1996 and M/s. Hanuman used to pay to M/s. ISC within the said credit limit through cheques and on some occasions by pay orders. The petitioners M/s. Hanuman have, however, claimed that the substantial part of the amount has already been paid leaving only a small amount.;