INDIABULLS HOUSING FINANCE LTD. Vs. A.R. INDUSTRIES PVT. LTD. AND ANR.
LAWS(P&H)-2014-8-349
HIGH COURT OF PUNJAB AND HARYANA
Decided on August 26,2014

Indiabulls Housing Finance Ltd. Appellant
VERSUS
A.R. INDUSTRIES PVT. LTD. AND ANR. Respondents

JUDGEMENT

Sabina, J. - (1.) Respondents had faced trial in a complaint filed by the complainant-applicant under Section 138 read with 142 of the Negotiable Instruments Act, 1881.
(2.) Case of the complainant, in brief, was that loan had been sanctioned in favour of the respondents for a sum of INR 3,50,000/- under the scheme of Business Loan. Respondents had promised to re-pay the loan amount regularly by way of instalments. However, respondents committed a default in making the payment of the instalments. Respondents had issued cheque dated 29.12.2009 in the sum of INR 1,01,901/- in partial discharge of the liability. However, when the said cheque was presented for encasement, the same was dishonoured by the bank with the remark "Drawers signatures differs". Despite issuance of legal notice by the complainant to the respondents, the cheque amount in question was not paid by the , respondents. Therefore, the complaint in question was filed by the applicant.
(3.) Trial Court vide judgment dated 21.5.2014 ordered the acquittal of respondents of the charge framed against them. Hence, the application under Section 378 (4) of the Code of Criminal Procedure, 1973 (Cr.P.C. for short) has been filed by the applicant with a prayer for grant of leave to file an appeal against the judgment dated 21.5.2014.;


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