J.B. Pardiwala, J.

1. By this application under section 482 of the Code of Criminal Procedure, 1973, the applicants seek to invoke the inherent powers of this Court praying for quashing of the proceedings of the Criminal Case No. 839 of 2016 pending before the 9th Additional Chief Judicial Magistrate, Jamnagar arising from the Criminal Inquiry No. 322 of 2014.

2. The facts of this case may be summarized as under;

2.1 The respondent No. 2 herein-original complainant lodged a private complaint against the applicants herein in the court of the learned Chief Judicial Magistrate, Jamnagar for the offence punishable under sections 406, 420 read with section 114 of the Indian Penal Code. The learned Magistrate recorded the verification of the complainant on oath and took cognizance. After taking cognizance, the learned Magistrate thought fit to postpone the issue of process as he ordered police inquiry under section 202 of the Cr.P.C. The police carried out the inquiry under section 202 of the Cr.P.C. as directed and filed a report before the learned Magistrate stating that no offence was made out as alleged by the complainant. The learned Magistrate took into consideration the report of the police and the other materials on record, and vide order dated 27th January, 2016, thought fit to issue process against the applicants herein for the offence punishable under sections 406, 420 read with section 114 of the Indian Penal Code.

3. Being dissatisfied, the applicants have come up with this application.

4. The case of the complainant, in brief, is that the applicant No. 1 herein is a Private Limited Company, of which, the applicant No. 2 is the Managing Director. The company floated a scheme, by which, it allotted Teak Saplings at the rate of Rs. 550/- each. The scheme provided that after a period of about 15 to 20 years, according to the growth of the tree, the expected realizable value would be Rs. 85,000/-. The allotment letter issued in favour of the complainant reads as under;

"GOLDEN TREES PLANTATION (P) LIMITED

LG/12, SHEFALI SHOPPING CENTRE,

PALDI CHAR RASTA,

ASHRAM ROAD,

AHMEDABAD-38006.

ALLOTMENT LETTER

To,

SHANKAR RAMJI CHAUHAN NAGNATH GATE, OLD KUMBHAR WADO, JAMNAGAR – 361 001.

UNITS ALLOTED -1   GTP - 6/93/12826

We are pleased to inform you that against payment of Rs. 550/- paid by you to us, we hereby allot you one Teak Sapling in our scheme at our Vrundavan Farm, (Taluka Dehgam, Dist. Ahmedabad). The allotment NO. mentioned herein above is a No,. affixed on the Teak Sapling allotted to you. The allotment is subject to terms and condition of the scheme.

Date 12.06.1993

Sd-

Dinesh P. Patel

Managing Director

Golden Trees Plantation (P) Ltd.

THE SCHEME : TERMS AND CONDITION

(1) The duration of the scheme is 15 (Fifteen) years from the date of the allotment of the sapling by the company

(2) Rs. 85000/- per unit is expected realisable value after 15 years.

(3) The trees will be insured on cost basis in accordance with Agriculture crop insurance scheme, if permissible

(4) the company shall not be liable to pay any damagers or compensation to the receipt holder for any breach due to any unforeseen circumstances.

(5) the receipt holder shall get his/her name and complete address, registered with the company at the time of booking and it shall be the responsibility of the receipt holder to inform the company b registered acknowledgment Due post of any change of address failing which all notice and letters posted to the Registered address shall be deemed to have been received by the receipt holder within the time that they should ordinarily reach the address.

(6) At the end of the scheme period the receipt holder shall present the receipt of the company and its realisable sale proceeds. Company will make payment of the amount for the realisable proceeds b cheques within 30 days of the receipt holder.

(7) The legal jurisdiction will