HOTHUR SHADAB WAHAB Vs. ASHA PARASRAMPURIA

JUDGEMENT

(1.) The petitioners are arraigned as accused Nos.3 and 4 in CC No.517/2017 and 518/2017 respectively on the file of the I Addl. Civil Judge and JMFC, Ballari.

(2.) Heard the learned counsel for the petitioners. Respondent is served but unrepresented.

(3.) Respondent herein filed a private complaint against accused Nos.1 to 5 alleging offence punishable under Sections 138 and 142 of Negotiable Instruments Act, 1881 (for short, *NI Act'). It is alleged that accused No.1 to 5 being the Directors of the Company registered under the provisions of the Companies Act, 1956, borrowed a business finance in a sum of Rs.15 lakhs and Rs.20 lakhs respectively and in discharge of the said liability, issued cheques for the said amount, which on presentation came to be dishonoured for the reasons that "payment stopped by drawer" and thereby committed aforesaid offences.