D.N. Upadhyay, J.

This Criminal Writ Application has been filed for quashing the entire criminal proceeding arising out of Dhanbad Bank More P.S. Case No.104 of 2012 dated 2.2.2012, corresponding to G.R.No.392 of 2012, registered under Sections 406/420/506 and 34 of the Indian Penal Code.

2. The present case was registered on the basis of a complaint vide C.P. Case No.154 of 2012 filed on 24.1.2012 by the respondent No.2Complainant and the said complaint was transferred to the concerned Police Station for institution and investigation under Section 156(3) Cr. P.C.

3. The brief facts appearing from the First Information Report/Complaint is that the petitioners happen to be the owner of landed property area measuring 73 decimals at Dhanbad which was mortgaged with the United Bank of India by M/s World Metal Movers, a Company floated by the family of petitioner No.2. Due to nonpayment of loan advanced in favour of said company, the jurisdiction of Debt Recovery Tribunal was invoked by the Bank and the property was at the verge of auction sale in the year 2007. The petitioners under that financial constraints approached the respondent No.2 and offered land for dev