G. Jayachandran, J. - (1.) Heard the learned counsel for the appellant/complainant. This appeal arises under the Negotiable and Instrumental Act, wherein the complainant a registered Finance Institution by name M/s. Cheran Chit Funds (P) Lt., Coimbatore had lost its case filed under Section 138142 of Negotiable Instrumental Act against Mr. N.Mahalingam drawer of the subject cheque.
(2.) The case of the complainant is that, the drawer of the cheque Mahalingam owe money to M/s. United Plantation Ltd., a sum of Rs. 1,50,000/- [Rupees One lakh fifty thousand only]. To clear his enforceable debt, Mahalingam has given cheque dated 31.10.2002 for Rs. 1,50,000/- [Rupees One lakh fifty thousand only] favouring M/s. United Plantation Limited. The complainant/appellant herein had advanced money to M/s. United Plantation Limited and to discharge that debt M/s. United Plantation Limited had endorsed the subject cheque in favour of the complainant/appellant. When the cheque was presented for collection it bounced back for insufficiency of fund. The statutory notice sent to the drawer of the cheque namely Mr. N.Mahalingam was not delivered, returned unserved. Thereafter, private complaint under Section 200 Cr.P.C , 1973has been preferred and taken on file by the Judicial Magistrate No. 1, Coimbatore in C.C. No. 539 of 2003. The complainant has examined one Mr. Ramasamy, the person authorised by the complainant company as PW.1. 8 Exhibits were marked on behalf of the complainant company.
(3.) Being a case of dishonoured cheque issued in favour of M/s. United Plantation and later on endorsement the complainant had become the holder on due course, the trial Court had rightly gone into the fact whether there was any legally enforceable debt between the complainant and M/s. United Plantation Ltd., to whose favour the cheque was drawn and whether there was any material to show that the complainant N.Mahalingam owe any legally enforceable debt towards M/s. United Plantation Ltd., Since, the evidence relied by the complainant does not disclose such fact, the trial Court has refused to draw presumption and dismiss the complaint.;