V. S. SUMTJETOCS Vs. RELIANCE CAPITAL LTD.

JUDGEMENT

(1.) This application is filed under Sec. 482 of the Code of Criminal Procedure, 1973 ('the Code' for short) for quashing and setting aside the complaints being Criminal Case No.29338 of 2017 qua the applicant, pending before the learned Metropolitan Magistrate, Court No.29, Ahmedabad filed under Sec. 25 of The Payment and Settlement Systems Act, 2007 ('the Act of 2007' for short).

(2.) The facts as stated in the application are such that it is alleged by respondent no.1 in the complaint that one M/s V.S.Texmills Pvt.Ltd. had availed finance/loan from it and had opted for Electronic Clearing Service (ECS) for repayment of finance/loan.

(3.) As the ECS initiated by M/s V.S.Texmills Pvt.Ltd., got dishonoured, the complaint is filed.