JUDGMENT

D.P. Mohapatra, J.-Leave granted.

2. The question that arises for determination in this case is whether on the facts and circumstances emerging from the averments in the complaint petition and the materials filed with it a case for quashing the complaint filed under Section 482 of the Code of Criminal Procedure (for short Cr.P.C. ) is made out or not.

3. This appeal filed by the accused persons is directed against the order dated 1.3.2000 of the High Court of Andhra Pradesh in Criminal Petition No. 3052/99 declining to grant the prayer of the appellants for quashing the proceedings in CC No. 24/99 on the file of the Court of Sub-Judge, Economic Offences at Hyderabad. The proceeding was instituted on the complaint petition filed by respondent No.1. The appellants and the respondent No. 1 are stated to be Directors of a Company-M/s Spectrum Power Generation Limited (hereinafter referred to as "the Power Company") incorporated under the Indian Companies Act, 1956 (for short the Act ), having its registered office at Secundrabad, in the State of Andhra Pradesh. The respondent No. 1 filed the complaint alleging offences under Sections 60, 63, 68, 68-A read with Section 621 of