V.D. SEBASTIAN Vs. SABU GEORGE

JUDGEMENT

(1.) This petition is filed under Sec. 482 of the Code of Criminal Procedure, 1973 (for short'Cr.P.C.') seeking to quash a complaint launched by the 1st respondent before Judicial First Class Magistrate Court , Pathanamthitta (for short'the court below') under Sec. 138 of the Negotiable Instruments Act, 1881 (for short'NI Act').

(2.) According to the petitioners the liability has been settled by two agreements executed among the Villa Owners Association and the construction company. Photocopies of those agreements are also produced alongwith the petition on hand. The prayer of petitioners is to quash the complaint, copy of which is produced alongwith the petition on hand as Annexure A3. Annexure A3 is silent about existence of agreement among the parties, at the relevant time.

(3.) The averments in Annexure A3 are to the following effect: First accused is a Private Limited Company represented by its Managing Director which is registered under the provisions of the Indian Companies Act and is engaged in the business of construction and development of Villas. Second and third accused, who are husband and wife are the Managing Director and Director of the first accused company respectively and they are carrying the business for and on behalf of the first accused and they are responsible for the day today affairs of the 1st accused company. The accused was contacted by the complainant and entered into an agreement for purchasing villa in the housing scheme of the first accused which is named as'Betrons Blossom Luxuary Villas' at Ernkaulam. Complainant had already paid the sale consideration as per the terms of the agreement entered between the complainant and accused Nos.1 to 3. The accused failed to complete the construction within the period stipulated by the agreement due to their financial crisis. When the accused requested the complainant to advance a sum of Rs.6,00,000.00 as loan for completing the construction of the proposed villas. It was assured by the accused that the amount will be repaid within three years with 7.5% interest per annum. Then the complainant advanced Rs.6,00,000.00 in three installments which was effected by bank transfer. An agreement was also entered regarding repayment and the issuance of cheque.