NALANDA BUILDERS AND DEVELOPERS PVT LTD AND OTHERS Vs. ADVIK FINANCE AND PROPERTIES PVT LTD AND OTHERS

JUDGEMENT

(1.) Crl.M.A.7691-7694/2018 (exemption)

(2.) The petitioner was an accused in proceedings under Section 138 of Negotiable Instruments Act, 1881 which were initiated by respondent No.2 claiming that cheques in the sum of Rs.1,18,00,000/- had been dishonoured.

(3.) It is the case of the petitioner that in January, 2017 a sum of Rs.18 lakh was paid. On 04.07.2017 when Non-Bailable Warrants were issued qua the petitioner, a settlement was arrived wherein the petitioner agreed to pay a sum of Rs.1 crore to respondent No.2. Rs.50,00,000/- were to be paid on or before 21.08.2017 and the balance Rs.50,00,000/- in the first week of October, 2017.