1. The petitioner is seeking quash of CC.No.2079 of 2024 on the
file of Chief Metropolitan Magistrate, Visakhapatnam. The
petitioner is facing trial for alleged offence under Section 406,
420, 120-B read with 34 of IPC.
2. The learned counsel for the petitioner submits that the petitioner
and the 2nd respondent entered into an agreement for sale and
purchase of Indonesian steam coal vide contract No.LIPL-
SAS/01/I/2018. The 2nd respondent is the seller and the
petitioner is the buyer as per the agreement. The agreement was
entered on 24.01.2018.
3. It is submitted that the petitioner also made payment of rupees
one crore only to the 2nd respondent on signing of the agreement
and also issued post dated cheques in anticipation of supply of
coal by the 2nd respondent. It is also submitted that the supply of
coal and purchase of coal could not materialize and that the
petitioner failed to make payment of Rs.10,23,22,100/- towards
cost of material and demurrage to a tune of Rs.73,00,000/-.