S E INVESTMENTS LTD Vs. PREM SINGH

JUDGEMENT

(1.) Crl.L.P. 614/2016

(2.) Facts leading to the present case as per the complaint are that the petitioner is a company carrying on financing business of Corporate loans, Term loans, Auto Loans, Loan against property, SME Trade & others. The respondent had taken a loan from the petitioner company on executing a Loan Cum Guarantee Agreement dated 8th January, 2013. Pursuant to the Loan Cum Guarantee Agreement, the respondent had to repay the said loan as per its terms and conditions but he failed to comply with the same. On repeated demands by the petitioner company for repayment of outstanding dues the respondent issued a cheque bearing number 589134 dated 6th May 2013 for a sum of Rs.26,63,037/- drawn on Canara Bank, Digner, Shamshad, Agra in favour of the petitioner company. On presentation of the aforesaid cheque, it was dishonoured with remarks 'insufficient funds' vide return memo dated 16 th May 2013. Legal demand notice dated 6 th June 2013 was sent to the respondent though registered post and AD. Despite the service of legal notice, the respondent failed to make the payment. 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.