JUDGMENT

Kapadia, J.—Leave granted.

2. These appeals are filed by accused nos. 2 and 3 against the impugned judgment of the High Court of Calcutta refusing quashing of the process issued by the Chief Judicial Magistrate (CJM), Alipore in respect of alleged offences under sections 120-B/406/417/420 of the Indian Penal Code (IPC).

3. The undisputed facts are as follows :

Madhav Prasad Birla (MPB) and Smt. Priyamvada Devi Birla (PDB) were one of the richest and the wealthiest couples who had no issues during their lifetime. MPB was one of the famous industrialists from the Birla family. The couple executed mutual wills in 1981. In 1982, the couple executed mutual wills revoking the earlier mutual wills. In 1988, during their lifetime, Smt. Birla formed four trusts and MPB formed the fifth trust. These trusts, 5 in number, covered corporate assets. On 30th July 1990 MPB died. On 10.9.1990, Smt. Birla gave directions in respect of MP Birla Trust under clause 6(b) and made nominations of beneficiaries in respect of her four trusts under clause 7(a) of the trust deeds in favour of three named public charitable institutions, viz., Hindustan Medical Institution (HMI), East India Education Insti