M.Y. Eqbal, J.

1. By this application under Section 482 Cr.P.C. the petitioners have prayed for quashing the entire criminal proceeding initiated against them being C-I Case No. 400 of 2003 including the order dated 31.05.2003 whereby cognizance: has been taken for the offence under Section 341/406 of the Indian Penal Code, pending in the court of Judicial Magistrate, Ist Class, Jamshedpur.

2. It appears that the aforementioned complaint case was filed by the complainant/opposite party No. 2 alleging inter alia that the complainant alongwith his friend Balbir Singh Bhatia purchased two trailers, which was financed by the petitioners on repayment by installments. Complainant alleged to have purchased one more trailer being registration No. AS-01-OL/5307. The complainant alleged that the he was paying installments as agreed but suddenly without any information the trailer was seized by the petitioners with the help of Musdemen. After getting information, the complainant alleged to have paid entire balance amount to the petitioner and on that condition trailer was released and it was stated by the petitioners that receipt of payment would be sent through Calcutta Branch Office.