ARUN NARULA Vs. ELECTROMECH INDUSTRIAL CORPORATION

JUDGEMENT

(1.) The present leave to appeals are filed against the judgments dtd. 14/6/2021 (hereafter 'impugned judgments') passed by the learned Metropolitan Magistrate ('MM'), Tis Hazari Courts, Delhi in CC No. 6830/2019, 6831/2019, 6832/2019 whereby the respondents were acquitted of the offence under Sec. 138 of the Negotiable Instruments Act, 1881 ('NI Act').

(2.) Briefly stated, the complainant/petitioner is the proprietor of Parul Agencies and is engaged in the business of telecommunication and shielded cables. It is alleged that Respondent No. 2 as partner of Respondent No. 1 and having friendly relations with the petitioner, approached the petitioner for a friendly loan for a sum of ?75 lakhs in the month of November 2017. It is alleged that the respondents assured to return the loan amount by January, 2019. Thereafter, the petitioner advanced a sum of ?75 lakhs to the respondents.

(3.) It is alleged that thereafter the respondents failed to pay the loan amount within the stipulated time and after much insistence issued three cheques bearing nos. 243761 dtd. 28/1/2019 (CC No. 6830/2019), 243762 dtd. 27/2/2019 (CC No. 6832/2019), 243763 dtd. 28/3/2019 (CC No. 6831/2019) each for a sum of ?25 lakhs. The said cheques on presentation got dishonoured and returned unpaid vide return memos dtd. 23/4/2019 with the remarks : Cheque Nos. 243761 and 243763 with remarks 'exceeds arrangement' and cheque no. 243762 with remark 'drawer signature differs'. Thereafter, on the failure of the respondents to repay the cheque amount despite the issuance of legal demand notice, the subject complaints were filed under Sec. 138 of the NI Act.