1. This is an application under Art. 227 of the Constitution of India and Ss, 401 and 482 of the Criminal Procedure Code for quashing the criminal proceeding being Case No. C11 of 1991 in the 9th Court of the learned Judicial Magistrate, Alipore u/Ss. 120B, 409, 420, 465 and 500 of the Indian Penal Code.

2. Petitioner No. 1 ANZ Grindlays Bank PIC having a branch office at 10, Sansad Marg, New Delhi represented by petitioner No. 2 S. C. Bhargava, formerly Assistant Manager and now Manager, Area Administration, Northern India are accused Nos. 4 and 5 respectively. On 3-1-91 the complainant-opposite party Shipping and Clearing (Agents) Pvt. Limited (hereinafter referred to as S.C.A.L.) filed a petition of complaint in the Court of the Sub-Divisional Judicial agistrate, Alipore, South 24-Parganas against the petitioners and some other persons alleging commission of offences u/Ss. 120B, 409, 410, 465 and 500 of the Indian Penal Code.

3. The allegations in the petition of complaint may briefly be stated thus: Complainant S.C.A.L. has a Branch Office at New Delhi situated at B-27 Sagar Apartments, 6 Tilak Marg. Accused Nos. 1 and 2 are Directors of accused No. 3 which is an exis