S. Ravi Kumar, J.

1. This petition is filed to quash proceedings in C.C. No. 52/2001 on the file of XII Additional Chief Metropolitan Magistrate, Hyderabad.

2. Petitioners herein are A1 to A3 in the above referred C.C. No. 52/2001. First respondent herein filed a private complaint against petitioners alleging that first petitioner is engaged in undertaking job works for conversion of raw material into bulk drugs and intermediate products. The first petitioner entered into a agreement, dated 10-09-1998, with the first respondent herein undertaking job work for conversion of raw material provided by first respondent into certain intermediates and products and accordingly first respondent entrusted material to first petitioner for job work and to return the finished products, but the first petitioner who is bound to return the finished products, committed breach of trust and dishonestly misappropriated the raw-material of the first respondent to an extent of Rs. 2,41,53,058/- and thereby, cheated the first respondent company and also committed breach of trust and liable for offences punishable under Sections 403, 408, 418 & 420 IPC and the learned Magistrate, after recording the sw