SHYAM NARAYAN MISHRA Vs. STATE

JUDGEMENT

(1.) Vide this common order, I shall dispose of three petitions, bearing Nos.1791/2013, 1983/2013 and 1986/2013 for quashing of Criminal Complaint No.40686/2011, titled as "Kamal Singh vs. Research India & Ors." u/s 138 of N.I Act, P.S. Dwarka Courts, Delhi.

(2.) A criminal complaint u/s 138 read with Section 142 of the Negotiable Instruments Act read with Section 120 IPC was filed by the respondent complainant against M/s Research India and seven others including the present petitioners, inter alia on the allegations that in the month of October, 2008, Uttam Kumar Tiwari introducing himself as Director of the firm, contacted the complainant for investment/loan of Rs. 8 lakhs for the ongoing projects of the company with assurance to return the same with secured profits/interest and the total amount agreed by the accused persons were Rs.20,00,000. On persistent request from all accused, complainant agreed for the secured investment/loan of Rs. 8 lakhs and gave two cheques of Rs. 4 lakhs each to accused no.4 i.e. Uttam Tiwari and the accused got the amount transferred in his account. On persistent request of the complainant, accused issued a cheque bearing No.840001 for Rs. 20 lakhs dated 23.10.2010, which on presentation was dishonoured with the remarks "Payment stopped by drawer".

(3.) It was alleged that accused nos. 2 to 8 are active participants in the day to day business of accused No.1 and they are under a liability to disburse the legally enforceable debt arising out the loan taken by accused No.1. Accused Nos. 2 to 8 are the members of the Board of Director/Executive. Legal notice was served upon all the accused persons calling upon them to pay the cheque amount. On their failure to pay the same, the complaint in question was filed.