JUDGMENT :

ANIL KUMAR CHOUDHARY, J.

1. Heard the parties.

2. This Writ Petition has been filed invoking the jurisdiction of this Court under Article 226 and Article 227 of the Constitution of India with a prayer to quash the entire criminal proceeding in connection with Lower Bazar P.S. Case No. 286 of 2023 registered for the offence punishable under Sections 406 , 420 and 120B of Indian Penal Code .

3. The brief fact of the case is that the co-accused-Raj Kumar Choudhary cheated and thereby induced the informant to part with Rs. 6,85,94,073/- by enticing and alluring the informant and his associates by making them invest huge amount of money with Yash Alloys Private Limited and the only allegation against the petitioner is that the petitioner was the original owner of Yash Alloys Private Limited which has been taken over by the Punjab National Bank.

4. It is submitted by the learned counsel for the petitioner by relying upon the judgment of the Hon’ble Supreme Court of India in the case of Naresh Kumar & Ors. vs. The State of Karnataka & Ors. reported in MANU/SC/0193/2024 that High Court must not hesitate in quashing such criminal proceeding which are essentially of a civil nature. It