JUDGMENT

Amit B. Borkar, J. - This is an application under Section 482 of the Code of Criminal Procedure challenging registration of First Information Report No.86/2018 with the non-applicant No.1 -Police Station dated 19/02/2018 for the offence punishable under Section 406 of the Indian Penal Code.

2. The First Information Report came to be registered against the applicants and others with the accusation that the cotton supplied by the non-applicant No.2 to the applicants was converted into thread and as per the agreement dated 07/09/2013, in case of failure on the part of the applicants to repay the amount of cotton supplied by the non-applicant No.2 to the applicants, the applicants were prohibited from selling cotton yarn manufactured and supplied by the non-applicant No.2. With these accusations, it is alleged that the cotton entrusted by the non-applicant No.2 with the applicants had been dishonestly converted into own property by the applicants and have sold it in the market contrary to the agreement between the non-applicant No.2 and the applicants.

3. The applicants, therefore, have challenged registration of First Information Report by way of present criminal application. Th