IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) PRESENT THE HON'BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU CRL.P.NO.3752 OF 2010. Date:28.04.2010 Between:- Mudusupally Raghavender Rao ..Petitioner/Sole accused And State of Andhra Pradesh, Rep.by its Public Prosecutor, High Court of Andhra Pradesh, Hyderabad and another. .. Respondents ORDER:- This petition is filed by the accused for quashing proceedings in C.C.No.124 of 2006 on the file of Judicial Magistrate of the First Class, Narsapur, Medak District relating to offence punishable under Section 406 I.P.C. On report given by the second respondent-Canara Bank about missing of machinery and the plant hypothecated by the borrower, the police registered the case, investigated into the same and filed charge sheet in the lower Court. It is contended by the petitioner’s counsel that the petitioner resigned as Managing Director of the company long back. It is also contended that after proceedings before the Debt Recovery Tribunal, the company entered into ‘one time settlement’ with the bank and paid the entire loan amount due and that the bank gave ‘no dues certificate’. In those circumstances, it is not known for what purpose the petitioner rushed before this Court with this petition. It is for the petitioner to approach the Magistrate with a petition under Section 320(2) Cr.P.C. for recording of compounding of the offence in view of one time settlement arrived at with the bank. Even now, the petitioner is at liberty to do so. Therefore, I do not find any valid or legal reasons to quash proceedings before the lower Court. Subject to the above observations, the petition is dismissed. _​_________________________ SAMUDRALA GOVINDARAJULU, J 28th April 2010 AMD