The court emphasized the need for investigation into the allegations and the premature nature of the petition for quashing.

JUDGMENT :

Heard Mr. Nitin Kumar Pasari, learned counsel for the petitioner, Mr. Badal Vishal, learned counsel for opposite party no.2 and Mr. Deepankar, learned counsel for the State.

2. This petition has been filed for quashing the entire criminal proceedings in connection with Ratu P.S. Case No.93/2018 arising out of Complaint Case No.1806/2018, corresponding to G.R. Case No.2971/2018 registered under Section 420, 406, 467, 468, 471 and 34 of the Indian Penal Code, pending in the court of the learned Judicial Magistrate, Ranchi. The prayer is also made for declaring passing of an order under Section 156(3) Cr.P.C. by the learned court is bad in law.

3. The complaint case was filed alleging therein that the petitioners and other accused persons and respondent no.2 are known to each other and are engaged in business. In the year 2008, respondent no.2 along with the petitioners and three other accused persons had established a company, wherein, accused no.1 looked after the day to day work on accused no.4. One rice mill was setup at Futkal Toli, P.S. Ratu, District-Ranchi under the said company in the name and style of Prateek Agro Experts Pvt. Ltd. The said company engaged Bank of India, Shyamali Branch as its banker and with the joint decision of the Directors it was agreed that the said account's operation would be carried by the signature of accused no.1 and the said bank also provided loan to the company. After some time of starting of the operation of the Rice mill, the accused persons with their connivance started cheating. Accused no.4 and accused no.1 are cousin and upon his instruction, accused no.1 started selling the goods on under determined price, which caused difficulty to the company and the liability towards the bank loan increased. Upon opposing the same accused persons and the petitioner used to quarrel. For such reason on 12.02.2018, a meeting was held between the petitioners, other accused persons and the respondent no.2 in presence of firm's Chartered Accountant, wherein, it was concluded that the accused no.1 will buy the said land and plant and further would pay Rs. 4 Crore to respondent no.2 as his share till 31.03.2018. It was further alleged that if the amount is not paid till 31.03.2018, penalty of Rs.50 Lakhs shall be paid. Pursuant to which one understanding (minute) was entered into wherein respondent no.2, petitioners, other accused persons and Chartered Accountant had put their signature voluntarily and the original copy of the said understanding was kept with accused no.4 and respondent no.2 was supplied with the photo copy of the same. It was also alleged that the petitioners and other accused persons created a forged resolution in the name of company that accused nos. 2 and 5 would operate the bank account and the same was submitted with the bank, which was informed to respondent no.2 through bank. It was further alleged that the petitioners and accused nos. 1, 2 and 4 in connivance with each other wants to remove the respondent no.2 fraudulently and appoint accused nos. 5 and 6 as Directors. On 10.04.2018 at 07:00 A.M., information was received that some persons are uninstalling the machines of the plant on the instruction of the petitioners and other accused persons, pursuant whereto respondent no.2 along with witness nos. 1, 2 and 3 went to the factory and restricted the uninstallation upon which the persons uninstalling the machine ran away. Respondent no.2 got confirm that the petitioners and other accused persons in connivance with each other have conspired and created the company to defraud respondent no.2 by selling the stocks and embezzle and also submitted the forged resolution of the company.

4. Mr. Pasari, learned counsel for the petitioners submits that the petitioners are Directors of M/s. Prateek Agro Export Pvt. Ltd., Ranchi and petitioner no.1 is amongst the founder Director of the company and the petitioner no.2 joined as Director of the said company w.e.f. 05.05.2008. He submi