VIJAY KUMAR Vs. DILIP KUMAR

JUDGEMENT

(1.) Crl.L.P. 74/2017

(2.) Briefly stated, the facts of the present case as per the complaint are that respondent was one of the partners with the petitioner in the partnership firm namely 'M/s Mag Graphics'. In the month of January, 2013, respondent agreed to retire from the aforesaid firm and deed of retirement dated 24th January, 2013 was executed. As per the retirement deed, petitioner and another retiring partner received a machine called 'Scitex Dolev 800V' and they were jointly and severally liable to pay Rs. 13 lakhs to the firm. Respondent issued a cheque bearing number 833626 dated 16th September, 2013 for a sum of Rs. 13 lakhs drawn on Indian Overseas Bank, Okhla Industrial Area, New Delhi in favour of the petitioner to discharge his joint liability and liability of another retiring partner. Upon presentation, the aforesaid cheque got dishonoured with remarks 'funds insufficient' vide return memo dated 15th October, 2013. Petitioner sent legal demand notice dated 15th October, 2013 through registered post and AD card but the respondent failed to make the payment within the stipulated time. Hence, the complaint.

(3.) Notice under Section 251 Cr.P.C. was framed against the respondent to which he pleaded not guilty and claimed trial.