Accordingly the accused offered to sell five flats against payment of Rs.5 crores. In pursuant to the representation the amount was parted to the accused company which is acknowledged by receipt, and, thereafter, the cheque was issued by the accused which was dishonourned on account of “Insufficient funds”. The notice dated 29th March, 2015, which has been annexed to the petition was issued at the instance of the complainant to the accused wherein it was stated that the accused nos.2 to 5 had personally assured the complainant that apart from the company, they would be responsible to refund the amount. The notice was replied through advocate by accused nos.2 and 3, wherein it was stated that the said accused were not incharge of day to day operations of accused no.1 company. However, they were financial investors in the capacity of share holders and launders to the company and since they are financial investors into the company, they have become the Directors of the company. However, the entire management and control of day to day business of the company is carried out by the promoters of the company, namely, Rajesh Madhani and Rupal Madhani (applicant in criminal application no.186 of 2017). The reply filed in the revision application preferred by petitioners, accused nos.1 and 5 who were respondent nos.3 and 5 therein stated that the present
