- (1.) This is an application under Section 482 Cr.PC praying for quashing a proceeding being Case No. C 2135 of 1996 pending before the Metropolitan Magistrate 14th Court, Calcutta under Section 138/141 of the Negotiable Instruments Act, 1881 hereinafter referred to as the NI Act and also for setting aside the order dated 17-5-97 by which the learned Metropolitan Magistrate rejected the prayer of the petitioner to drop the proceedings against him.
(2.) The case of the petitioner is that he is 83 years old and is also suffering from various ailments. He is in Ex-Honorary Presidency Magistrate of Calcutta and was also the Sheriff of Calcutta at one point of time. The petitioner was a Director of M/s. Tirrihannah Co. Ltd., hereinafter referred to as the Company. But there he was a sleeping director of the Company and was not involved in the day to day running of the Company and is not also responsible to the Company. In fact the petitioner does not participate in the active management of the Company.
(3.) A proceeding under Section 138/141 NI Act was started against the said Company and all its Directors including the petitioner on the allegation mat the opposite party to the revisional application gave a loan of Rs.10 lacs on 3-7-1996 to the petitioner-Company with the stipulation to repay the same with interest within 120 days. The Company issued a cheque dated 9-10-96 to repay the said sum but the cheque which was presented for encashment with the Bankers by the opposite party on 15-2-96 was returned on 17-2-1996 with the Bankers endorsement "Funds Expected". A notice was issued on the Company by the opposite party to make payment within 15 days together with interest and as payment was not made the criminal proceeding under NI Act was started.;