N.N.Singh, J.

1. This application under Sec. 482 of the Code of Criminal Procedure has been filed for quashing the order dated 28.8.96 (passed by Chief Judicial Magistrate, Deoghar in G.R. case No. 405 of 1995 taking cognizance of offence under Sections 420, 406 and 403 of the Indian Penal Code against the petitioner and also for quashing the entire prosecution of Jasidih P.S. Case No. 105 of 1995 pending in the Court of Sri B.B. Lal, Judicial Magistrate, 1st Class Deoghar.

2. The fact leading to filing of this application can be briefly stated as such ; That the petitioner, who was proprietor of M/s. Paints Varnish, was sanctioned a term loan of Rs. 2.50 lacs by the Bihar State Finance Corporation (hereinafter to be referred as the Corporation) which has now swelled upto Rs. 16,63,667.57 paise (as per counter affidavit) including principal and interest. Sri U.C. Mishra, Branch Manager of the Corporation at Deoghar filed a written report against the petitioner on 31.12.94 alleging further that after getting loan of Rs. 2.50 lacs, this petitioner issued letter of hypothecation on 30.6.79 as well as indenture of agreement dated 30.8.79 agreeing that the assets of the unit sha