K.S. Rathore, J. - (1.) Heard learned Counsel for the parties. Facts of the case are that a complaint for the offence under Sec. 138 and 142 of Negotiable Instructions Act, 1881 (for short, hereinafter referred to as 'the Act' of 1881) was filed by the respondent No. 2. In the complaint, it was stated that the respondent No. 2 is a registered company having its Head Office at Udyog Bhawan, Tilak Marg, Jaipur and grants industrial loans.
(2.) The petitioner. M/s. Rivona Industries Ltd. is a registered company and the three other accused persons are its directors. A buy -back agreement was executed by the accused persons and they agreed to reply the amount. The accused -petitioner No. 3 issued a cheque No. 010832 dated 03.08.03 of Rs. 8,75,000/ - of Indusind Bank Ltd., Branch, S.V. Road, Bombay. The said cheque was presented by the complainant to its bankers, the Bank of Rajasthan Ltd., Tilak Marg for collection but the same was returned back without payment with the remark of 'insufficient fund'. A notice was sent by fax and registered AD post to the accused -petitioners requesting them to make payment of amount within fifteen days from receipt of the notice. The complainant filed a complaint before the judicial Magistrate. The Magistrate after hearing the complainant took cognizance and against the order of taking cognizance, the revision filed by the petitioner was dismissed on 17.01.2007 as not maintainable.
(3.) Against the dismissal of the revision petition, the petitioners preferred writ petition before this Court, which was registered as SBCWP No. 583/2007.;