The learned Magistrate on receipt of the petition of companyplaint examined the companyplaint on oath and also the witnesses produced by the companyplainant.
The appellants then moved the High Court under Section 482 of the Code of Criminal Procedure for quashing the companynizance, inter alia, on the ground that the allegations made in the petition of companyplaint even being accepted on its face value numberoffence can be said to have been made out against them.
On the basis of those material the Magistrate took companynizance of the offence under Sections 406, 620, 467, 468 and 120 B IPC by his order dated 5.2.96 and directed issuance of process against the accused appellants.
PATTANAIK, J. Leave granted.
The appellants have been arrayed as accused persons along with others in a companyplaint petition filed by respondent No.1 alleging offences companymitted by the appellants under Sections 406, 420, 468 and 120 B of the Indian Penal Code, in respect of transfer of shares effected by Flex Engineering Ltd., a public limited companypany.
