CHAMPION AGRO LTD., Vs. KOTAK MAHINDRA BANK LTD

JUDGEMENT

(1.) The captioned petitions, involving identical questions of law and fact inter se between the same parties, albeit arising out of two distinct criminal complaints, are, with the consent of learned counsel appearing on either side, heard analogously and are being disposed of by this common order.

(2.) At the request of the learned advocates for both parties, Special Criminal Application No. 1723 of 2017 is treated as the lead matter for the purpose of adverting to and extracting the relevant factual matrix.

(3.) Both petitions have been instituted by the accused persons invoking jurisdiction of this Court under Sec. 482 of the Code, assailing the legality, validity, and propriety of the order passed by the learned Trial Court whereby Kotak Mahindra Bank Ltd. (hereinafter referred to as 'the bank') has been permitted to be substituted in place of original complainant- Capital First Ltd., consequent upon the assignment of business in favour of the said Kotak Mahindra Bank Ltd. in proceedings arising under Sec. 138 of the Negotiable Instruments Act, 1881 (for short, "the NI Act").