JUDGEMENT :

1. Rule. Rule made returnable forthwith and, with the consent of the counsels for the parties, heard finally.

2. This application under section 482 of the Code of Criminal Procedure, 1973 seeks to quash and set aside the order of issue of process dated 26th June, 2019 for an offence punishable under section 138 read with 141 of Negotiable Instruments Act, 1881 passed by the learned Metropolitan Magistrate, 58th Court, Bandra, Mumbai in CC No. 25/SS/2019, qua the applicants.

3. Shorn of superfluities, the background facts leading to this application, can be stated as under :-

a] Gupta Synthetics Limited (accused No.1) is a company incorporated under the Companies Act, 1956. The applicants herein, Anil Kumar Singhal (accused No.4) and Meenu Maheshwari (accused No.5) are the Directors of Gupta Synthetics Limited (accused No.1), apart from Mohan Gupta (accused No.2) and Prakash Gupta (accused No.3). Avinash Shah (accused No.6) is the company secretary.

b] ING Vysya Bank Limited, which merged with Kotak Mahindra Bank Limited, the complainant herein (“the Bank”) had extended various financial facilities to Gupta Synthetics Limited (accused No.1). A proceeding, Original Application