JUDGMENT

Subhasis Dasgupta, J. - This is for quashing of a proceeding in connection with G.R. Case No. 6166 of 2020, pending before the court of learned Additional Chief Judicial Magistrate, Barrackpore relatable to Khardah Police Station Case No. 565 of 2020 dated 15.10.2020, under Sections 420/406/120B of the Indian Penal Code.

2. The aforementioned case came to be registered at the police station on the strength of an order under Section 156(3) Cr.P.C., passed by learned ACJM, Barrackpore, following receipt of a complaint for and on behalf of Rashi Merchantiles Pvt. Ltd. (hereinafter referred to as RMPL).

3. RMPL being engaged in the business of Corporate Depositor, on the presentation of petitioner with other carrying then a trade of auto car dealership of Maruti Suzuki, advanced a loan of Rs. 50,00,000/- (Rupees Fifty Lakh) in the form of inter-corporate deposit, on 18th March, 2020, to the petitioner being one of the Directors of Premier Car World Pvt. Ltd. for a period of 90 days bearing an interest of 10% per annum to overcome the stringent financial condition, faced by the borrower/Premier Car World Pvt. Ltd.

4. Believing the assurance, the complainant creditor advanced suc