Nirmaljit Kaur, J.

1. This is a petition under Section 482 Cr.P.C for quashing of FIR No. 256 dated 28.12.2007 registered under Sections 420, 406, 467, 471 and 120-B IPC at Police Station City Batala and all other consequential proceedings arising therefrom.

2. Brief facts of the case are that the petitioner is a director of M/s Deluxe Kaaran Imports Pvt. Ltd, Mumbai. The company of the petitioner is engaged, inter alia, in the business of imports of Plastic Raw Material (Plastic Granules) used in the manufacture of plastic bags etc. Further, the petitioner is also a director of M/s Esskay-Bee International Pvt. Ltd., inter alia, engaged in the same business.

3. Intelligence report was gathered by the officers of the Directorate of Revenue Intelligence (DRI), Mumbai indicating misuse of Target Plus Scheme (TPS) by M/s Deluxe Kaaran Imports Pvt. Ltd., Mumbai. The intelligence indicated that M/s Deluxe Kaaran Imports Pvt. Ltd, Mumbai and the petitioner as its director, in association with certain Delhi and Mumbai based DGFT Licence brokers had arranged imports of various plastic raw materials under claim for exemption from customs duty against Target Plus Licences (TPL) inste