ORDER

1.Leave granted.

2. The appellant is the accused in a complaint filed against him by the respondent Company for offence under Sections 415, 418 and 420 IPC. As per the allegations made in the complaint dated 8-6-2001, filed in the Court of Judicial Magistrate, First Class, Bhor, the appellant was an authorised distributor of the respondent complainant Company for 15 years.

3. The allegations in the complaint are that a memorandum of understanding (MOD) dated 16-8-2000 was executed between the accused and the complainant for the period 16-8-2000 to 30-11-2000, which, inter alia, stipulated that 50% of the payments against monthly quantity would be given in advance and balance 50% on receipt of the goods by M/s Shikhar Enterprises or its sister concern. The accused had two firms, namely, (1) M/s Shikhar Enterprises, and (2) Mis Gulshan Agencies at Delhi. The complainant delivered 56,94,120 reels of steel grip tapes valued at Rs 3,38,62,860 to the accused during the period 19-8-2000 to 20-11-2000 and out of this amount, the accused made only part-payment of Rs 3,05,39,086 leaving balance amount of Rs 33,23,774. The allegations are that after making this payment, the accused did