SUNDERLAL SIPANI Vs. TRISTAR HOMES PVT LTD

JUDGEMENT

(1.) This appeal is filed by the complainant against the order dtd. 2/12/2016 passed by the I Additional Chief Judicial Magistrate at Bengaluru, in C.C. No.3121/2016 (PCR No.100/2015) dismissing the complaint filed by the appellant/complainant.

(2.) The brief facts of the case are that, the appellant/complainant has filed a private complaint under Sec. 200 of Cr.P.C. against Accused Nos. 1 & 2 before the Court of Additional Chief Judicial Magistrate at Bengaluru, praying to secure the accused No.2 and punish him for the offences under Sec. 138 of Negotiable Instruments Act, 1881 (In short, ' N.I. Act ') and also under Sec. 420 of Indian Penal Code (In short, ' IPC ').

(3.) The gist of complaint is, Accused No.1 is a Company Registered under the Companies Act and Accused No.2 is the Director of the said Company, who is authorized to manage all its financial matters; At the request of Accused No.2 on behalf of the said Company, the complainant has advanced loan of Rs.10,00,000.00 (Rupees Ten Lakhs only) on 4/11/2013 by cash to the accused for his business purpose; Towards repayment of the said amount, Accused No.2 had issued a Cheque bearing No.028727 dtd. 3/1/2015 for a sum of Rs.10.00 Lakhs drawn on Axis Bank Limited, White Field Branch, Bengaluru in favour of the complainant, with an assurance that the same will be honoured by his banker on its presentation; But, when the said cheque was presented to HDFC Bank Ltd., Richmond Road, Bengaluru, on 8/1/2015, the same was dishonoured on 12/1/2015 with an endorsement 'Insufficient Funds'. Therefore, in that regard, the complainant issued a statutory legal notice to Accused Nos. 1 and 2 demanding repayment of Rs.10.00 Lakhs. The said notice was duly served on 23/1/2015 and in spite of that, the accused have failed to repay the said loan amount. Hence, the complainant has filed a private complaint before the CJM Rural Court, Bengaluru, which was registered in PCR No.100/2015 and later culminated in CC No.3121/2015.