RAJENDRA PRASAD MITTAL Vs. MANISH GARG

JUDGEMENT

(1.) By way of these petitions filed under Sec. 482 of the Code of Criminal Procedure, 1973 ('Cr.P.C'), the petitioners seek following reliefs:

(2.) In both these petitions, the petitioner no. 1 i.e. Rajendra Prasad Mittal (accused no. 2 in complaint cases) and petitioner no. 2 i.e. Arun Mittal (accused no. 3 in complaint cases) are the erstwhile Directors of respondent no. 2 i.e. Aarcity Infrastructure Pvt. Ltd. (accused no. 1 in complaint cases). In Crl.M.C.5315/2023, the respondent no. 1 i.e. Manish Garg is the Director of "Parker Builders Pvt. Ltd." which is respondent no. 1 in Crl.M.C.5316/2023.

(3.) Brief facts of the case, as per the complaints filed under Sec. 138/141/142/143A of the Negotiable Instruments Act, 1881 ('NI Act') are that petitioners alongwith Smt. Saroj Mittal, Smt. Akanksha Mittal and R.P. Mittal HUF, who were the owners of units nos. 301-305, Krishna Apra Business Square, Plot No. 4, 5 & 6, Wazirpur District Centre, Netaji Subhash Place, Pitampura, Delhi, had come in contact with the complainant Manish Garg and had communicated their desire to sell the said property as they were in dire need of money. The petitioners had represented that the said units were free from all encumbrances, legal defects, etc. except a pending loan of Rs.4,10,11,438.00 with M/s. Dewan Housing Finance Ltd. ('DHFL'). On these representations, the complainant Manish Garg had become interested in buying the said property and accordingly, an agreement to sell dtd. 6/4/2018 had been executed between the parties for a consideration of Rs.4,50,00,000.00. As per the terms of agreement, the complainant Manish Garg had paid an earnest amount of Rs.40,00,000.00 to the petitioners and other aforesaid owners of the property, and had agreed to pay the remaining amount of Rs.4,10,00,000.00 directly to DHFL. Thereafter, hehad paid a sum of Rs.96,83,738.00 to DHFL as repayment of loan from the account of the complainant company i.e. Parker Builders Pvt. Ltd. However, subsequently, the petitioners had informed the complainant Manish Garg about their disinterest to continue the sale of the property as they were getting more consideration for the same property from some other buyer. The petitioners had also promised him that they shall refund the earnest money of Rs.40,00,000.00 to him and shall also refund the sum of Rs.96,83,738.00 paid by complainant company Parker Builders Pvt. Ltd., alongwith interest @ 24% per annum from the date of its payment, from the sale proceeds of sale of the property. On such assurances and representation, the complainant Manish Garg had handed over the physical, peaceful and vacant possession of the property to the petitioners and had also cooperated in its sale to third party. In discharge of the liability of Rs.96,83,738.00, the petitioners had refunded a sum of Rs.27,37,000.00 on 12/2/2019 and Rs.27,37,695.00 on 21/2/2019 to the complainant company Parker Builders Pvt. Ltd. As per complainant, for the discharge of remaining liability, the petitioners had issued two cheques, which are subject matters of two complaint cases. The petitioners, towards discharge of remaining liability out of aforesaid Rs.96,83,738.00, had issued cheque bearing no. 944327, dtd. 31/3/2020, drawn on Indian Bank, Pitampura, Delhi, in favour of complainant company Parker Builders Pvt. Ltd. for a sum of Rs.58,50,000.00 from the account of respondent no. 2/accused no. 1 company i.e. Aarcity Infrastructure Pvt. Ltd., on the representation that they had transferred their funds in the said company which was a family owned and family run company. Further, the petitioners had also issued a cheque bearing no. 944329, dtd. 31/3/2020, drawn on Indian Bank, Pitampura, Delhi, in favour of complainant Manish Garg for a sum of Rs.40,00,000.00from the account of respondent no. 2/accused no. 1 company i.e. Aarcity Infrastructure Pvt. Ltd. However, upon presentation, both these cheques had got dishonored for the reasons "Funds Insufficient" vide return memo(s) dtd. 6/6/2020. Thereafter, the complainants had issued statutory legal notices dtd. 25/6/2020 to the petitioners and accused company Aarcity Infrastructure Pvt. Ltd. calling upon them to make payment of the aforesaid amounts. Upon failure on part of accused persons to make payment, the Complaint Case No. 5892/2020 was filed by the complainant Manish Garg for dishonor of cheque of Rs.40,00,000.00, and the Complaint Case No. 5888/2020 was filed by the complainant company Parker Builders Pvt. Ltd. for dishonor of cheque of Rs.58,50,000.00. Thereafter, the learned Trial Court had issued summons against the accused, and notice under Sec. 251 of Cr.P.C. was framed against the petitioners vide orders dtd. 25/8/2022 in both the cases. Aggrieved by the same, the present petitions have been filed before this Court.