OMWAY BUILD ESTATE PVT. LTD. Vs. SATYENDRA JAIN

JUDGEMENT

(1.) By way of the above captioned petition, the petitioners invoke the inherent jurisdiction of this Court under Section 482 of the Code of Criminal Procedure, 1973 to set aside the order dated 30th March, 2015 passed by the Metropolitan Magistrate, Saket District Court, New Delhi in Criminal Complaint No. 2492 of 2015 (old no. 991/11) thereby dismissing the application of the petitioners for stay of the proceedings; to quash the Criminal Complaint No. 2492 of 2015 (old no. 991/11) and to set aside the order dated 13th December, 2010 passed in Criminal Complaint No. 2492 of 2015 (old no. 991/11) passed by the Metropolitan Magistrate by virtue of which the petitioners were summoned as accused for offence punishable under Section 138 of the Negotiable Instruments Act.

(2.) The brief facts stated are that the respondent- Satyendra Jain had filed a complaint under Section 138 read with Section 141 of the Negotiable Instrument Act, 1881(hereinafter referred to as NI Act ) on 30th November, 2010 in the Court of the Additional Chief Metropolitan Magistrate, Saket Courts, New Delhi. It is alleged in the complaint that Mr. Janak Goyal/petitioner no.2, who is the Director of M/s Omway Buildestate Private Limited having its registered office at 3 - Local Shopping Complex, Sharda Chamber, K Block, Kalkaji, New Delhi-110019 and the complainant/respondent were known to each other and in the month of January, 2010 Mr. Janak Goyal/petitioner no.2 requested the complainant/respondent for a loan of Rs. 4,35,00,000/- (Rupees Four Crores Thirty Five Lakhs Only) for a period from 20.01.2010 to 31.05.2010 which was extendable upto 30.09.2010 with interest thereon for the said period, being the last date to re-pay the loan along with interest. Thereupon, the Company/petitioner no.1 i.e. Omway Buildestate Private Limited and the complainant/respondent entered into a Loan Agreement dated 20.01.2010. As per the Loan Agreement, the complainant gave Rs. 4,35,00,000/- (Rupees Four Crores Thirty Five Lakhs Only) to the accused/petitioners No.1 - 3, by way of three cheques bearing no.s 508629 dated 19.01.2010, 5555761 dated 20.01.2010 and 5555763 dated 20.01.2010, for a period from 20.01.2010 to 31.05.2010 which was extendable upto 30.09.2010, along with interest thereon. The said cheques were duly encashed by the Company.

(3.) It is further alleged in the complaint that under the loan agreement the Company agreed that the Company would issue post dated cheques as security for re-payment of the loan amount along with interest thereon, which would be presented for payment if the Company defaults in the re-payment of the loan amount. The Company issued two cheques in favour of the complainant and the details are as follows: