S P VELAYUTHAM Vs. STATE

JUDGEMENT

(1.) THE petitioner is A-2 in a case, pending investigation in Crime No. 539 of 2006, registered for offences punishable under Sections 406 and 420 I.P.C.

(2.) THE genesis of the case, which led to the filing of the present petition are as follows: (a) THE prosecution case is that the defacto complainant entered into an agreement for purchase of the property of the petitioner, which was valued and fixed at Rs.11 crores and by way of advance a sum of Rs.1.5 crores was given by cheque and Rs.7 lakhs by way of cash. It is subsequent thereto, the defacto complainant, on coming to know that the petitioner had entered into similar such agreements with one M/s. Lancor Properties and had received Rs.16 laksh from them, demanded repayment of the sum given by them. (b) Subsequently, after discussion between the parties, a memorandum of cancellation of the agreement was entered into on 2.7.2005, wherein it has been agreed that the petitioner shall refund the advance received to the defacto complainant. It has been further agreed to pay interest at the rate of 12% per annum on or before 15.9.2005 and by way of security, post dated cheque bearing No. 223147 dated 16.9.2005 drawn on UTI Bank, for a sum of Rs.1.65 crores was given to the defacto complainant. On presentation of the cheque, it was returned unpaid with an endorsement "referred to Drawer". THEreafter on 14.11.2005 the defacto complainant preferred a private complaint under Section 138 of the Negotiable Instruments Act before the learned XXIII Metropolitan Magistrate, Saidapet, Chennai-15 and the same was taken on file as C.C. No. 1718 of 2006. (c) Notwithstanding to the above, the defacto complainant has preferred another complaint for offences under Sections 420 and 406 I.P.C., on the same set of allegation and it is pending investigation in Crime No. 539 of 2006 on the file of the respondent police. Hence, the present petition to quash the proceedings.

(3.) I have perused the materials available on record and heard the submissions of either parties, including the defacto complainant.