Decided on October 21,2019

D. Yedukondalu Appellant
STATE OF A.P. Respondents


U Durga Prasad Rao, J. - (1.)In this Criminal Petition filed under Section 482 of Cr.P.C. the petitioner/accused seeks to quash the proceedings against him in Calendar Case No.2003 of 2019, on the file of the Court of V Additional Junior Civil Judge, Guntur (for short, 'the trial Court'), which was taken cognizance for the offences under Sections 138, 142-A and 143 of the Negotiable Instruments Act, 1981.
(2.)The case of 2nd respondent/complainant is that it is a registered company and at the request of petitioner/accused the complainant company sanctioned a loan of Rs.50,00,000/- for the purpose of his business needs. Consequently, the petitioner/accused executed the loan agreement and promissory note in favour of the respondent/complainant along with co-borrowers agreeing to repay the loan amount within 60 equal monthly instalments at the rate of Rs.1,52,083/- p.m. Further case of the complainant is that when the petitioner failed to repay the said amount, the matter was referred to the Arbitrator, who passed an Award against the petitioner/accused on 19.01.2016. Pursuant to the Award, the petitioner/accused failed to repay the loan amount and so the respondent/complainant filed EP against the petitioner. At that time, the petitioner/accused issued a cheque bearing No.059942, dated 16.08.2018, for Rs.91,87,000/- drawn in favour of the complainant payable at State Bank of India, Vinukonda Branch, Guntur district. The said cheque on presentation was bounced back, hence, the complaint. Now, this petition is filed by the petitioner/accused to quash the proceedings in C.C. No.2003 of 2018.
(3.)Heard learned counsel for the petitioner/accused, learned Additional Public Prosecutor appearing for the 1st respondent/State, learned counsel appearing for the 2nd respondent/complainant, and perused the record.

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