J. P. GIRISH Vs. RAMAKRISHNA MILLS

JUDGEMENT

(1.) THE petitioners who are arrayed as accused number 1 and 3 in C.C.No.201 of 2003 on the file of the learned Judicial Magistrate, Satyamangalam in respect of an offence under Section 138 of the Negotiable Instruments Act (hereinafter referred as Act) seek to quash of proceedings against them.

(2.) THE complaint in C.C.No.201 of 2003 has been filed on the allegation that the accused were partners of a firm viz., Chamber Cotton Textiles and that they are jointly looking after the conduct of the "day-to-day affairs of the business firm. Having purchased cotton from the complainant and being liable to pay a sum of Rs.48,87,911/-, the accused have issued two cheques dated 18.03.2003 for Rs.5,00,000/- and Rs. 10,00,000/- respectively towards partial discharge of liability. When the cheques were presented for payment, the same were returned unpaid for the reason that the accused have closed the bank account. The complainant had followed the procedure envisaged under Section 138 of the Act and not having had payment within the stipulated period despite notice, a complaint alleging offence under Sections 138 and 142 of the Act as also offence under Sections 417 and 420 IPC has been filed. The lower Court has taken cognizance for offence under Section 138 of the Act and upon receipt of summons issued by such Court, the petitioners have filed the present petition.

(3.) I have heard the learned counsel for the respondent on the submissions made on behalf of the petitioners.