Ranjit Kumar Bag, J.

The petitioners have prayed for quashing of the criminal proceeding of G.R. no.1242 of 2015 arising out of Burrabazar Police Station Case no.273 dated May 7, 2015 under Sections 120B/420/406/506 of the Indian Penal Code pending before the court of learned Additional Chief Metropolitan Magistrate, Calcutta.

2. The opposite party no.2 filed a written complaint before the Officer-in-Charge of Burrabazar Police Station on the basis of which Burrabazar Police Station Case no.273 dated May 7, 2015 was registered. It is alleged in the said written complaint that the opposite party no.2 gave loan of Rs.25 lac to one Ganpat Agarwal and the present petitioners on assurance that the loan will be repaid within reasonable period of time. The loan was given by issuing cheques in favour of the company by which Ganpat Lal Agarwal, his son and other members of the family have been carrying on family business. The interest accrued on the principal amount of loan was Rs.16,07,580/- till March 31, 2015. Mr. Ganpat Agarwal gave last account confirmation in connection with the loan transaction between the parties till April 1, 2013. The amount of loan or interest accrued the