Joymalya Bagchi, J.

The petitioners have prayed for quashing of proceeding in G.R. Case No. 573/2011 pending before the Chief Judicial Magistrate, Howrah arising out of Jagacha P.S. Case No. 51 dated 02.02.2011 under Sections 406/420/336/120B of the Indian Penal Code, 1860.

The instant criminal case was initiated on the basis of an application under Section 156(3) of the Code of Criminal Procedure, 1973 instituted by opposite party no. 2 herein before the Chief Judicial Magistrate, Howrah, inter alia, alleging as follows :

Opposite party no. 2 is carrying on business in manufacturing and sale of wagons, coaches and other equipments to Indian Railways and has high reputation in the said field; opposite party no. 2 commenced manufacturing of EMU (Electrical Multiple Unit) coaches for carrying passengers since 2007; for the purpose of manufacturing such coaches, the company was required to purchase (i) break pull rods for bogie breaks as per railways’ drawing and specification No. EMU/M-3-2063 and (ii) block hanger inner vide railways’ drawing and specification No. EMU/M-3-2050; the petitioner No. 1 carries on business in manufacturing of such products and petitioner nos. 2