VINAYAKA PROJECTS Vs. A. SURESH BABU

JUDGEMENT

(1.) The respondent filed a complaint under Sec. 138 of the Negotiable Instruments Act alleging that the cheque which was issued by the accused No.2 towards legally recoverable debt when presented for reliazation was returned for "want of funds". The learned Magistrate after recording the sworn statement, took the cognizance of the offence punishable under Sec. 138 of the Negotiable Instruments Act and issued summons against which the accused No.1 is before this Court.

(2.) The learned counsel for the petitioner submits that the petitioner-accused No.1 is not the drawer of the cheque and the cheque was issued by accused No.2 in his individual capacity and not on behalf of the petitioner-accused firm. He further submits that the partners of the firm having not been arrayed as accused, the petitioner-accused firm cannot be held vicariously guilty and as such, the complaint is hit of Sec. 141 of the Negotiable Instruments Act.

(3.) The respondent-complainant though served with the notice has remained absent.