MEENU JAIN Vs. PARASRAM SECURITIES PVT. LTD

JUDGEMENT

(1.) Meenu Jain, the Petitioner herein vide instant petition has prayed for quashing of complaint case No. 1928/1/2006 under Section 138 read with Section 142 of N.I. Act titled "Sh. Parasram Securities Pvt. Ltd. v. Meenu Jain"on the ground the Delhi Court lacks territorial jurisdiction to try said complaint.

(2.) Briefly stated, facts relevant for disposal of this petition are that the Petitioner and the Respondent have business dealings in relation to commodity trading transactions. The Petitioner had a Running Account with the Respondent. On 28th March, 2006, the Petitioner issued two cheques bearing Nos. 947422 and 947423 for Rs. 2 Lakhs each drawn at Punjab National Bank, Bombay Bazar, Meerut (UP) in favour of the Respondent against the discharge of purported liability. The cheques, when presented for encashment, were dishonoured and returned by the drawee bank with the remarks "Funds Insufficient". Respondent thus issued a notice of demand under Section138 N.I. Act to the Petitioner but the Petitioner failed to pay the cheques amount. This led to filing of complaint against the Petitioner.

(3.) Learned M.M., on consideration of the complaint and the affidavit evidence led by the complainant, issued process for appearance against the Petitioner.