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2005 (1) TMI 406 - SC - Companies LawOffences punishable under sections 406 and 428 of the Indian Penal Code - Held that:- Appeal allowed. In the present case, the appellant was discharged by the Chief Judicial Magistrate and the revisional Court confirmed that order after elaborately considering the facts and circumstances of the case. It may also be noted no offences were made out under section 406 IPC as it was a matter of civil nature. The respondent-corporation had also initiated steps for arbitration proceedings on the basis of the arbitration clause in the agreement. Thus the High Court was not justified in exercising its inherent power under section 482 of the Criminal Procedure Code in this case. It cannot be either said that there was miscarriage of justice warranting interference by the High Court.
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