JUDGMENT :

1. This is an application under Section 482 read with Section 401 of the Code of Criminal Procedure filed by the petitioners praying for quashing of the proceedings being G.R.Case No.1221 of 2013 pending before the Court of the Learned Chief Metropolitan Magistrate, Kolkata. The criminal proceeding of G.R.Case No. 1221 of 2013 has arisen out of Bowbazar Police Station Case No. 168 dated 28.03.2013, under Sections 420/406/120B of the Indian Penal Code. The petitioners have also challenged the order dated 14.02.2017 passed by the Learned Chief Metropolitan Magistrate, Calcutta, regarding taking of cognizance of the aforesaid offences. Petitioner no.1 is a company registered under the Companies Act, 1956. The company is engaged in the manufacture and trade of apparels through chain of retail stores under the brand name and style of Priknit.

2. The petitioner no.2 is the Managing Director of the Company. Petitioner nos.3 and 4 are the Directors of petitioner no.1 company. Petitioner no.4 joined petitioner no.1 company on 30.11.2009.

3. Opposite party no.2 is a company registered under the provisions of the Companies Act and is member of the National Stock Exchange of India Ltd.