Sudhir Agarwal, J.—Heard learned counsel for the petitioner and perused the record.

2. M/s Agrarians Agro Fields Limited is a Company registered under the provisions of Companies Act, 1956, having its registered office at C-2/67 New Kondli Delhi. One of the functions in which Company was engaged is property and financial transactions. Petitioner is one of the Director of Company. Other two Directors are Sri K. Rawat and Sri Devi Singh Negi. Sri Trilok Chand Sharma is the Chairman/ Managing Director of the Company.

3. It is alleged that petitioner resigned from Directorship on 28.02.1998 and information sent to Registrar, Companies, Delhi and Haryana.

4. Respondent 4, Sri Ratan Prakash Tyagi filed criminal complaint under Section 138 of Negotiable Instruments Act 1938 (hereinafter referred to as the “Act, 1938”) read with Section 420 IPC alleging that Company and its Directors including petitioner have committed fraud to usurp money of innocent people including respondent 4.

5. The company floated a scheme representing that amount invested shall be doubled within a period of three and half years and in order to assure benefit and also in lieu of deposits made by investors, l