ADARSH BHAGIRATH BAGARIA Vs. SREI EQUIPMENT FINANCE PRIVATE LIMITED
LAWS(CAL)-2014-10-20
HIGH COURT OF CALCUTTA
Decided on October 31,2014

Adarsh Bhagirath Bagaria Appellant
VERSUS
Srei Equipment Finance Private Limited Respondents

JUDGEMENT

ASHIM KUMAR ROY, J. - (1.) THE petitioner has been facing his prosecution under section 138 of the Negotiable Instruments Act, 1881 with the aid of section 141 of the said Act in connection with Case Nos.C/9519/2014 and C/19824/2013, now pending before the learned Chief Metropolitan Magistrate, Calcutta and the learned Metropolitan Magistrate, 7th Court at Calcutta. Since the quashing has been sought for on identical ground, the same were taken up for hearing together.
(2.) IT is submitted that the dishonoured cheques in the aforesaid cases were issued on November 15, 2013 and April 12, 2013, whereas in the first case, the petitioner has resigned from the post of Director of the accused - Company, Spanco Limited with effect from November 10, 2012 by submitting From No.32 on November 12, 2012 and in the second case, he resigned with effect from March 29, 2010 from the accused -company, Spanco BPO Services Limited and From No.32 was submitted on May 24, 2010.
(3.) IT is, therefore, contended that at the material time, when the cheques were issued, the petitioner was no more a Director in any of the accused -Companies, therefore, his prosecution for the offences punishable under section 138 of the Negotiable Instruments Act, 1881 with the aid of section 141 of the said Act is totally illegal and without jurisdiction and the same is liable to be quashed. The contention of the learned advocate of the petitioner has not been disputed by the counsel of the complainant/opposite party.;


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