BOMBAY OFFSHORE SERVICES LIMITED Vs. SHANKAR NARAYAN

JUDGEMENT

(1.) Leave granted.

(2.) A proceeding under Section 138 of the Negotiable Instruments Act had been initiated by Bank of Credit and Commerce International (Overseas) ltd. (BCCI) to whom the appellants had issued three cheques which, on being presented, were dishonoured. In the said proceedings cognizance had been taken. Subsequently, BCCI was wound up and State Bank of India commercial International Bank Ltd. (SBICIB) was the successor of the said bcci.

(3.) Sbicib pursued the criminal prosecution and filed a petition before the Magistrate to allow SBICIB to pursue the litigation. The learned magistrate allowed the said prayer. The appellant-accused moved the High court against the said order and their application having been rejected, they approached this Court.