M/S. MOSER BAER PHOTO VOLTAIC LTD. Vs. M/S. PHOTON ENERGY SYSTEMS LTD. & ORS.
SUPREME COURT OF INDIA
M/S. Moser Baer Photo Voltaic Ltd.
M/S. Photon Energy Systems Ltd. And Ors.
Click here to view full judgement.
(1.) Leave granted.
(2.) In course of its business of supplying solar cells and laminates, the
appellant-company made supplies to the respondent no.1. Respondent
nos.2 to 6 are the Chief Executive Officer; General Manager (Finance);
Ex-Chief Executive Officer; Chairman; and the Managing Director
respectively of respondent no.1. According to appellant's case, against
larger outstanding dues, the respondent no.1 issued a cheque dated 31st
May 2008 for Rs.3,21,53,903/- only. On a request that there was
shortage of some funds the cheque was not to be presented immediately.
There were some disputes between both the parties which were settled
through a mutual meeting and as per minutes of meeting held on 22nd
and 23rd September 2008, the net payable amount by respondent no.1
was reduced and settled at Rs.2,87,09,640/-.
(3.) The cheque was presented with the bankers M/s. HDFC but it
was returned on 28.11.2008 with the remark "funds insufficient". On
receipt of Memo of Dishonour at its Delhi office, appellant sent a legal
notice dated 18.12.2008 demanding only the settled outstanding amount
of Rs.2,87,09,640/- and not the cheque amount which was
Rs.3,21,53,903/-. On 19.12.2008, respondent no.1 paid an amount of
Rs.20 lacs towards its debt liability and in reply to the notice it denied
the balance liability. It also adopted a further defence that the cheque
was given for a larger amount by way of security and was not for any
payable debt. The criminal complaint filed by the appellant under
Sections 138/141/142 of the Negotiable Instruments Act, 1881 in the
Court of XI Additional Chief Metropolitan Magistrate, City Criminal
Courts at Secunderabad registered as C.C. No.829 of 2009 was
entertained and non-bailable warrant was ultimately issued against the
accused persons on 04.03.2009. The respondents could not succeed
against the order issuing non-bailable warrant but their subsequent
petition under Section 482 of the Code of Criminal Procedure was
entertained and finally allowed by the impugned order under appeal
dated 12.10.2011. As a result, the criminal complaint of the appellant
has been dismissed mainly on the ground that the cheque amount was
different from the legally enforceable debt as per notice given by the
appellant to the accused persons.;
Copyright © Regent Computronics Pvt.Ltd.