- (1.) In all the three CRRs common questions of law and facts arise. Therefore, with consent of the parties the three CRRs were taken up for hearing analogously and are being disposed of by this common judgment.
(2.) The genesis of the three CRRs arise from a financial accommodation extended by the opposite party no.2 (for short OP2) in favour of Modiluft Ltd. (now known as Spicejet Ltd.) and represented in the three CRRs by one of its stakeholders, Satish Kumar Modi. According to the complaint a total amount of five crores was advanced by the OP2-complainant in favour of Modiluft Ltd. and the said advance was sought to be repaid by way of post-dated cheques towards interest, TDS on interest and repayment of the principal sum.
(3.) The post-dated cheques were presented on behalf of the OP2- complainant to its banker for encashment and the same being dishonoured three complaint cases were filed against Modiluft Ltd. (hereinafter referred to as the Company) by the OP2-complainant under Section 138 of the Negotiable Instruments Act, 1881 (for short the NI Act) before the Ld. Magistrate at Calcutta.;