ORDER :

1. The petitioners have preferred the instant Writ Petition (Cr.) under Article 226 of the Constitution of India, challenging the registration of First Information Report bearing No. 359 of 2021 (Annexure P/1) lodged by respondent No.4 who is the Managing Director of Simplex Casting Limited at Police Station Supela, District Durg (CG) against the petitioners for the offence punishable under Sections 406, 420 read with Section 34 of IPC.

2. The brief facts as reflected from the writ petition are that the petitioner No.1 is a Chairman of the Adventz Group and other petitioners are the Senior Executives of the Company. There was a business transfer agreement (for short, “BTA”) between the petitioners’ company and Simplex Casting Limited which was filed as Annexure P/2 along with the writ petition. BTA has various clauses which provide the manner, procedure to be followed for execution of BTA, purchase and its consideration. Clause 3 of BTA provides purchase consideration which reads as under:-

3.1 The consideration for the sale and transfer of the undertaking as a going concern basis shall be a lump sum amount of INR 57,50,00,000 (Indian Rupees Fifty seven crore and fifty lakh on