SANDEEP GUPTA Vs. SHRI RAM STEEL TRADERS

JUDGEMENT

(1.) The present petition is filed seeking quashing of impugned order dtd. 3/12/2021 passed by the Ld. Metropolitan Magistrate (New Delhi - 01), Patiala House Court, New Delhi in CT No.12161/2018 titled 'Shri Ram Steel Traders vs. Richa Industries Limited and Ors.'

(2.) The facts of the present case are that the complaint, being CT No 12161/2018, was filed by Respondent No.1-Shri Ram Steel Traders, against the Petitioner and Respondent Nos. 2-Richa Industries Limited, under Sec. 138 read with Sec. 141 and 142 of the Negotiable Instrument Act, 1881 (hereinafter called NI act) before the Metropolitan Magistrate, NewDelhi-01, Patiala House Court, New Delhi.

(3.) The petitioner was the Managing Director of Respondent no. 2. The respondent no.1 alleged that the Petitioner and Respondent no 2 approached Respondent no.1 for purchase of steel. On placing of purchase orders, materials have been alleged to have been supplied to Respondent no.2 on credit. In discharge of debt, respondent no.2 issued cheque no. 424055 dtd. 24/3/2018 drawn on Corporation Bank, Faridabad for a sum of Rs.6.00 crores. The cheque was signed by the petitioner for and on behalf of respondent no.2. The cheque on presentation was dishonored and hence the complaint.