N.V. Dabholkar, J. -. The writ petition prays this Court to invoke the powers under Article 227 of the Constitution of India as also inherent powers under Section 482 of Cri.P.C. 1973, for the purpose of quashing the proceedings of Criminal Case No. 130/ S/1994 pending before 37th Court of Metropolitan Magistrate at Esplanade, Bombay, presided by Additional Chief Metropolitan Magistrate.

2. Facts giving rise to present petition, according to petitioners are as follows:

Petitioner No. 2 is a company incorporated under the Companies Act and dealing in business of processing of food products such as grains, pulses, etc. Petitioner No. 1 is one of the Directors.

3. In or about November; 1992, respondent No. 2 approached petitioners with a proposal for processing a consignment of Masoor imported by them. The proposal was accepted and executed by processing the consignment as required by respondent No. 2. With the passage of time, commercial transactions between the parties increased. In February, 1993, respondent No. 2 offered the work of processing gram. Watana to the petitioners. It was agreed that petitioner No. 2 shall effect sale of processed gram and Watana on behalf of respo