GURU BUX SINGH Vs. STATE OF U. P.

JUDGEMENT

(1.) The present petition has been filed under Section 482 Cr.P.C. for quashing of proceedings of Complaint Case No.129 of 2006 (Gopal Motor Finance versus Cyber World Info System (I) Ltd. and others) under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as 'the NI Act') as well as summoning order dated 30.08.2006 (Annexure-1).

(2.) Respondent No.2 has filed a complaint under Section 138 of the NI Act against the petitioners wherein it has been alleged that respondent No.2 is a firm with Sri Gopal Chandra Agarwal as its proprietors engaged in the business of Motor Finance. On 14.05.2000, the petitioners requested the complainant to grant them loan of Rs.6,00,000/- for purchasing a luxury vehicle. Again on 15.05.2000 the petitioners requested the complaint to grant them loan of Rs.6,00,000/- for purchasing a Toyota Qualis SUV and assured respondent No.2 that loan amount of Rs.6,00,000/- along with interest (Rs.7,50,000/-) would be paid by 15.9.2000. Respondent No.2 gave a Cheque No.1026771 drawn on Bank of India for a sum of Rs.6,00,000/- to M/s Cyber World Info System (I) Ltd. on 15.05.2000 which was to be repaid along with net profit of Rs.1,20,000/-.

(3.) It has further been alleged in the complaint that Sri Pradeep Singh and Sri Rahul Hukku had given Cheque No.217123 dated 14.01.2006 drawn on Account No.550 of Corporation Bank, Gomti Nagar, Lucknow to respondent No.2 for an amount of Rs.10,00,000/- towards the payment of loan amount. On 14.01.2006, respondent No.2 had given notices to directors of the company for payment of amount and had also sent notices through Registered Speed Post on the same day.