PUNEET SALUJA Vs. STATE

JUDGEMENT

(1.) The present petition under Sec. 482 of the Code of Criminal Procedure, 1973 ('Cr.P.C') has been preferred by the petitioner, seeking quashing of order dtd. 20/1/2020, passed in C.A. No. 174/2019, titled as 'Puneet Saluja vs. SBI Global Factors Limited', pending before learned Special Judge, NDPS/New Delhi, whereby an application under Sec. 148 of the Negotiable Instruments Act, 1881 ('NI Act') filed by the petitioner was disposed of, directing the petitioner to deposit Rs.1,20,00,000.00within a period of 30 days.

(2.) Brief facts of the case, as per complaint filed under Sec. 138 NI Act, are that the petitioner/accused, who was the proprietor of M/s. Ena International, had approached the complainant i.e., M/s. SBI Global Factors Limited for Export Factoring Facilities and the complainant had granted the same to the accused vide Export Factoring Agreement dtd. 19/4/2008. Against the total outstanding amount of Rs.4.99 crores (approximately) as on 13/3/2009, the accused had issued four cheques in favour of the complainant company, amounting to a total of Rs.4.4 crores. The accused had assured the complainant that these cheques would be honoured upon presentation and on such assurance, the complainant had presented these cheques with its banker on 13/3/2009. However, these cheques had returned dishonoured vide cheque return memo dtd. 13/3/2009 with the remarks 'Funds Insufficient'. Thereafter, the complainant had issued a legal notice dtd. 25/3/2009 to the accused seeking payment of the amount in question. However, since the accused had failed to either reply to the legal notice or make any payment, the complainant had filed the present complaint under Sec. 138 of the NI Act.

(3.) Learned Metropolitan Magistrate-04 (NI Act), New Delhi District, Patiala House Courts, Delhi, vide judgment dtd. 17/7/2019 had convicted the petitioner herein for offence under Sec. 138 of NI Act. Vide order on sentence dtd. 27/7/2019, the learned Magistrate had sentenced the petitioner to six months of simple imprisonment, along with payment of compensation of Rs.6.00crores within one month. Further, in default of payment of compensation, the petitioner was further sentenced to undergo six months of simple imprisonment.