(1.) BY this petition under Section 482 Cr.P.C., the petitioners seek quashing of summoning order dated 20.05.2006 passed by learned M.M. in Complaint Case No.2819/1/06 filed under Section 138 of N.I. Act by the respondent (complainant), who himself was Director in M/s IKF Technologies Ltd./petitioner No.1 company herein.
(2.) THE question required to be dealt with in this petition is whether the cheque in question was issued in discharge of existing debt or liability so as to attract criminal action under Section 138 of NI Act.
(3.) AS per Clause (vii) of the MOU the respondent was to receive :