1. Through the instant petition filed under Section 561-A of the Code of Criminal Procedure (hereinafter for short, Cr.P.C.), petitioners seek quashing of criminal proceedings arising out of P.V. No. 61/2017, being inquired by the respondents against the petitioners.

2. The factual matrix of the case are that the petitioners and three other persons started a Company under the name and style of M/S SERA Cue Labs Pvt. Ltd, which is a registered Company under the Companies Act with the Registrar of Companies, Chandigarh, and had been issued a certificate of incorporation in its favour by the said authority. The petitioner No.1 was appointed as the Chief Operating Officer (C.O.O.) reporting to Mr. Dilpreet Sahi, Chief Executive Officer (C.E.O.). It is stated that petitioner No.2 was Director of the said Company amongst three others, namely Col. Arvinder Singh, Arun Bhardwaj and Ritu Sahi. It is submitted each of them are individually 25% stake-holders in the Company as per the Registrar of Companies Records. The Company at that time was in the process of expansion and had spread its Laboratories all over India, thus, one Gurdeep Singh Bali, R/o House No 90, Rolki Bakshi Nagar,