VANI SHAMACHAR Vs. B. K. SRIKANTH

JUDGEMENT

(1.) This petition is f i led with a prayer to quash the complaint and taking of cognizance and issuance of summons against the petitioner herein, who is arrayed as an accused in C.C.No.1717/2016 on the f i le of the Prl. Civi l Judge (Jr. Dn.) and JMFC, Bal lari, for an of fence punishable under Section 138 of the Negotiable Instruments Act, 1881, (for short the Act ).

(2.) Heard Shri Ganapathi M.Bhat, learned counsel for the petitioner and Shri Gopalkrishna R.Kol l i, learned counsel appearing for the respondent.

(3.) Respondent f i led a private complaint al leging that accused No.1 is a private limited Company and accused Nos.2 and 4 are the Directors of accused No.1. For the development of their business and on behalf of accused No.1, they requested a hand loan from the complainant in a sum of Rs.9,50,000/-. The said hand loan was advanced and paid to accused No.2, for and on behalf of accused No.1, through complainant s HDFC Bank account to the Axis Bank account maintained by the Company at Bengaluru branch. The sum was transferred on 28.10.2013. The accused persons promised that the said amount would be repaid within 1 years. However, when the complainant demanded the said amount from accused No.1, a cheque bearing No.868474 dated 17.04.2015 pertaining to Punjab National Bank, Hudson Circle branch, Bengaluru, was handed over to the complainant and when the said cheque was presented through his banker HDFC Bank, Bal lari, the same was dishonoured on 17.04.2015 with a shara Exceeds Arrangement . Thereafter, the complainant got issued a notice to al l the accused on 30.04.2015. The notices sent under the Registered Post Acknowledgement Due was served on accused Nos.1, 2 and 4 and even after receipt of the demand legal notice, they fai led to give any reply nor paid the cheque amount. As such, they committed an offence punishable under Section 138 of the Act.