K KUMARAVEL Vs. R P RATHINAM

JUDGEMENT

(1.) The petition is filed seeking a direction to call for the records pertaining to the case in STC No. 1126/2010 on the file of the learned Judicial Magistrate No. I, Mettur Dam and quash the same.

(2.) The Respondent filed a private complaint under Section 138 of Negotiable Instruments Act stating that the Petitioner had business transaction with the complainant's wife Madheswari and she invested a sum of Rs. 5,00,000/-to start a cloth store and the Petitioner joined in the shop in order to help the complainant's wife. It is further submitted that the Petitioner took over the business but has not furnished any accounts to the complainant's wife. The said Madheswari preferred a complaint and the Petitioner came forward for a settlement and agreed to pay a sum of Rs. 10,00,000/-and gave a post dated cheque for the same amount on 20.3.2010. However, the cheque was issued in the name of the complainant. The complainant deposited the cheque on 6.4.2010 with the State Bank of India, Mettur and on 13.4.2010, the cheque returned with an endorsement "Funds insufficient". The complainant issued a notice dated 27.4.2010 and the Petitioner failed to pay the amount due under the cheque. Therefore, the proceeding has been initiated under Section 138 of Negotiable Instruments Act.

(3.) Aggrieved by taking cognizance of the private complaint the Petitioner is before this Court to quash the proceedings on the following grounds: