JUDGMENT

S.K. Panigrahi, J. - The petitioners in this petition seek to quash the proceeding in C.T. Case No.1460 of 2021 arising out of INFOCITY P.S. Case No.053 dated 08.03.2021 pending before the court of the learned S.D.J.M., Bhubaneswar under Sections 341/294/420/506/34 of IPC.

2. On perusal of the FIR on record, the facts are such that Shankar Kumar Jha, CEO, Omnitude Services Pvt. Ltd. (hereinafter 'Opp. Party No. 5') purchased a Piling Rig Machine after taking loan from SREI Finance Company (hereinafter 'financer'). Jitendra Kumar Behera, Owner, Trayesh Construction Pvt. Ltd. (hereinafter 'Petitioner-Company') leased the aforementioned machine from Omnitude Services for 48 months at a monthly rent of Rs.12,98,000.00 for the first 12 months and rent of Rs.8,26,000.00 per month for the remaining 36 months.

The petitioner-company also paid Omnitude Services Rs.20,00,000.00 as a security deposit. The petitioner-Company defaulted his monthly payments in March 2020 after paying two instalments. Consequentially, Opposite Party No.5 terminated the lease agreement and intimated the same to the petitioner. On 04.03.2021, Opposite Party No.5 tried to recover the aforementioned property b