((-1-)) mst IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL WRIT PETITION NO.138 OF 2009 Global Trade Finance Ltd. & ors. Petitioners versus Asian Electronics Ltd. & another Respondents AND CRIMINAL WRIT PETITION NO.139 OF 2009 Shankarnarayan Raghunath Rao & anr. Applicants versus Asian Electronics Ltd. and another Respondents Yashpal Thakur i/by Paras Kuhad & Associates for applicants. Mukul Taly i/by M/s.S.Mahomedbhai & Co. for respondent no.1. H.J.Dedhia, APP. CORAM : A.S.OKA, J. DATE : 06th April 2009 PC : 1. Heard learned counsel appearing for the petitioners, learned counsel for the first respondent and learned APP for the State. The prayer in these petitions under Article 227 of the Constitution of India read with section 482 of the Code of Criminal Procedure, 1973 is for quashing the proceedings of private complaint filed against the petitioners by the first respondent. A private complaint was filed alleging commission of offence under sections 406, 409 read with section 34 of the Indian ((-2-)) Penal Code. The learned Magistrate issued process for the offence punishable under section 409 read with section 34 of the Indian Penal Code. 2. The learned counsel for the first respondent on instructions states that considering the pendency of the arbitration proceedings and other relevant factual aspects, the first respondent does not desire to prosecute the petitions. He submitted that first respondent has no objection for quashing the complaint. 3. After having perused the averments made in the complaint, I find that in view of the statement made by the counsel for the first respondent, a case is made out for exercise of power under section 482 of the said Code. Hence, the writ petitions are made absolute in terms of prayer clause (a). 4. It is obvious that all contentions of the parties in the pending proceedings before the learned Arbitrator are expressly kept open. (A.S.OKA, J.)