JUDGMENT

SHIVA KIRTI SINGH, J.

1. The appellants have preferred this appeal against the dismissal of their petition under Section 482 of the Criminal Procedure Code (for brevity 'Cr.P.C.') by the High Court of judicature for Rajasthan at Jodhpur. The High Court declined to interfere with the order of learned Chief Judicial Magistrate, Sriganganagar, dated 22.05.2000 in Case No. 63/2000, taking cognizance of offence under Section 420 read with Section 120-B of the Indian Penal Code.

2. Respondent No.2, Surendra Singhla, lodged a police case against the appellants as well as one Satish Singhla on 28.04.1998. According to the averments and allegations in the written report, the informant is a partner of the Firm M/s. Rajshree Cotton Corporation, Sriganganagar, working as broker as well as dealer in the sale and purchase of cotton. The appellants are Directors of M/s. R.P. Taxfab Limited, Modi Nagar, who purchased cotton through informant firm from time to time. As per the accounts, the informant firm was to receive a sum of Rs.47,28,115.80/-.

The accused persons without taking the informant into confidence, entered into an agreement for transfer of management, assets and liabilities of M/