VARAVINAYAK VENTURES Vs. RAJESH SHARMA

JUDGEMENT

(1.) Appellants/accused Nos.1 to 5 have preferred this petition under Sec. 397 of Cr.P.C., challenging the judgment of conviction and sentence passed against them by the XX Additional Chief Metropolitan Magistrate, Bengaluru in C.C. No.173/2013 for the offence punishable under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the 'N.I. Act', for brevity) and affirmed by the LVIII Additional City Civil and Sessions Judge (CCH -59), Bengaluru in Criminal Appeal No.472/2015 dtd. 6/2/2019.

(2.) Parties to this appeal are referred to as per their rank before the Trial Court. Brief facts of the case are as under:

(3.) The respondent complainant filed a private complaint against the accused persons alleging that, complainant and one Shri. B.P. Ramesh were the partners of a partnership firm and were running a hotel under the name and style of 'M/s. Sonakshi Nati Hallimane'. Because of various reasons and financial constraints, they decided to stop their restaurant business and wanted to sell the same. Accordingly, accused Nos.1 to 5 being the partners of 'M/s. Vara Vinayak Ventures' have agreed to purchase the business set up of 'M/s. Sonakshi Nati Hallimane' situated at 65/1A, Kaikundrahalli, Sarjapura Main Road, Bengaluru-35, for a valuable consideration of Rs.25,50,000.00. Accused Nos.1 to 5 being the partners of the aforesaid venture entered into business purchase agreement dtd. 12/6/2012.