This Criminal Petition is filed to quash the proceedings in CCNo.777/2007 for the offences under Sections 420 and 120-B LP.C on the file of Chief Metropolitan Magistrate, Visakhapatnam. A-I to A-4 are the petitioners.

2. Sri T.M.K. Chaitanya, the learned Counsel representing the petitioners would maintain that there are no specific allegations against the petitioners and even if these allegations are to be taken as they are, at the best it may be a case of breach of contract and definitely such acts would not attract any criminal liability whatsoever. The remedy if any available is before a competent Civil Court, but invoking the criminal forum would clearly amount to abuse of process of court. The learned Counsel also relied on several decisions and further specifically pointed out to Section 415 LP.C with certain of the statutory illustrations. Hence the learned Counsel would maintain that in the light of the specific grounds raised in this Criminal Petition filed under Section 482 of the Code of Criminal Procedure (in short hereinafter referred to as "Code" for the purpose of convenience), the proceedings are to be quashed.

3. Sri Srinivas Rao, the learned Counsel representin