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Hence the present appeals.

12.Mr. Jaideep Gupta, learned senior counsel appearing for the appellants strenuously urged that the complaint deserves to be quashed as it ex-facie lacks the basic ingredients of Sections 420 or 406 IPC. It was argued that in the complaint it is not even averred that the accused had a fraudulent or dishonest intention to induce the complainant to enter into the tripartite agreement. Similarly, there is no allegation that the appellants herein had dishonestly misappropriated or converted to their use any property of IEL, which had been entrusted to them. Further, from a bare perusal of the complaint, it is evident that the complainant was aware of the financial health of FCIL and, therefore, it cannot be said that the appellants had suppressed the fact that FCIL was likely to be declared as a sick company. To buttress the plea, learned senior counsel referred to the plaint in the suit. Relying on the decision in All Cargo Movers (India) Private Limited & Ors. Vs. Dhanesh Badarmal Jain & Anr.1, it was submitted that the averments and the documents in the civil suit could be taken into consideration to find out as to whether the allegations in the complaint were correct. Additionally, learned senior counsel argued that the disputes (2007) 14 SCC 776 between FCIL and IEL were essentially civil in nature, and the complaint only against the erstwhile employees of FCIL was mala fide and an abuse of the process of court and, therefore, deserves to be quashed.

"415. Cheating.--Whoever, by deceiving any person, fraudulently or dishonestly induces the person so deceived to deliver any property to any person, or to consent that any person shall retain any property, or (2000) 2 SCC 636  intentionally induces the person so deceived to do or omit to do anything which he would not do or omit if he were not so deceived, and which act or omission causes or is likely to cause damage or harm to that person in body, mind, reputation or property, is said to "cheat".

Explanation.--A dishonest concealment of facts is a deception within the meaning of this section."

It is plain from a bare reading of the Section that to hold a person guilty of cheating, as defined in Section 415 of the IPC, it is necessary to show that at the time of making the promise he had fraudulent or dishonest intention to retain the property or to induce the person so deceived to do some thing which he would not otherwise do.

22.The ingredients required to constitute an offence of cheating have been succinctly laid down in Ram Jas Vs. State of U.P.5, as follows:

11. That it was further learned that the accused persons with deceptive and fraudulent intentions deliberately suppressed that a huge amount was already due to various other suppliers of raw materials and other creditors, that the complainant would have not parted with such a huge amount of Rs.4,20,41,622/- and or equivalent to BCCL if they were not deceived by the false and fraudulent representation of the accused persons and induced to part with the said sum.