ADARSH SARAN Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) The present petitions are filed seeking quashing of summoning order dtd. 24/3/2018 (hereafter 'impugned order') passed by the learned Metropolitan Magistrate ('MM'), Patiala House Courts, New Delhi in complaint case bearing CC No. 36097/2016.

(2.) The subject complaint was filed by the respondent in CRL.M.C. 2520/2020 (hereafter 'complainant') under Sec. 138 of the Negotiable Instruments Act, 1881 ('NI Act') against the accused company ' M/s West Haryana Highways (hereafter 'accused company') and its directors pursuant to the dishonour of the cheque issued by the accused company. The accused company is engaged in the business of construction/laning of roads.

(3.) It is alleged that the accused company approached the complainant for a grant of a term loan for the purpose of six/four laning of existing two lane road from Delhi-Haryana Border to Rohtak. It is alleged that on the request of the accused company, the complainant vide Sanction letter dtd. 25/4/2008 sanctioned a Senior Term Debt of ?100 crores. Subsequently, it is averred that the accused company through its directors vide letter dtd. 30/10/2013, approached the complainant for restructuring of the existing debt of ?88 crores. It is alleged that on the request of the accused company, the complainant agreed to restructure the existing debt of ?88 crores on the terms and conditions as stipulated in the letter dtd. 31/12/2013.