SH. RAM KUMAR JAISWAL Vs. ASHISH ASSOCIATES

JUDGEMENT

(1.) The present application under Sec. 482 CrPC has been filed by the applicants seeking quashing of the summoning order dtd. 7/9/2016 passed by the Judicial Magistrate, Rishikesh, District Dehradun, in Criminal Case No. 586 of 2016, M/s Ashish Associates v. Raj Kumar & Others, and the entire proceedings arising therefrom under Sec. 138 of the Negotiable Instruments Act, 1881.

(2.) The proceedings stem from a complaint filed by the respondent firm, M/s Ashish Associates, alleging that a cheque dtd. 6/5/2016 for Rs.1,30,00,000.00 (Rupees One Crore Thirty Lakhs), issued by the applicant firm, M/s Mahakaal Traders, was dishonoured on two occasions-first on 9/5/2016, and again on 26/5/2016. A statutory demand notice dtd. 24/6/2016 was subsequently issued, seeking payment within 15 days.

(3.) It is further alleged that the said cheque was issued toward repayment of a loan of Rs.1.3 crores, disbursed by the respondent firm through bank transfers on 12/6/2015 and 13/6/2015 to the applicant firm's account.