(1.) This Civil Revision Application challenges the order of the learned Metropolitan Magistrate, 44th Court, Andheri, Mumbai in C.C.No. 376/SS/2005 dated 12th June, 2007 convicting the applicants of offence punishable under section 138 read with section 141 of the Negotiable Instruments Act and sentencing applicant No. 1 (accused No. 1) to pay fine of Rs. 5000/- and applicant No. 2 (accused No. 4) to simple imprisonment for one year and to pay compensation of Rs. 5,50,000/- and in default to suffer simple imprisonment for 3 months. The applicants have also challenged the judgment of the learned Sessions Judge, Greater Bombay upholding and confirming the said sentence on 23rd June, 2009. The initial complaint under section 138 read with section 141 of the Negotiable Instruments Act came to be filed by the respondent No. 1 (complainant) herein inter alia against the applicants herein (the accused company) upon a dishonoured cheque of Rs. 5,00,000/- issued by the accused company on 29th July, 2000.
(2.) The parties had entered into certain agreement with regard to sale of shares of one Zuari Finance Limited, which is a sister concern of the accused company, which were agreed to be purchased by the accused company from the complainant.
(3.) A letter dated 31st July, 2000 came to be written by the accused company to the complainant showing that they agreed to purchase from the company 50,000 shares of Zuari Finance Limited at the rate of Rs. 12/- per share.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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