P. RAJU Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This petition has been filed to quash the proceedings in S.T.C.No.680 of 2019 on the file of the learned Judicial Magistrate No.I, Denkanikottai, thereby take cognizance for the offence under Sec. 138 of Negotiable Instruments Act.

(2.) According to the complainant, the petitioner borrowed loan and availed cash credit of Rs.30,00,000.00 on 21/3/2010 and he has also executed deposit of title deeds.

(3.) According to the agreement, once in six months, he has to pay a sum of Rs.5,90,240.00 towards settling the loan. The petitioner/accused issued a cheque for a sum of Rs.5,90,240.00 which was returned dishonoured for the reason of insufficient funds. Therefore, the defacto complainant caused statutory notice and filed a complaint and the same has been taken cognizance in S.T.C.No.680 of 2019 on the file of the learned Judicial Magistrate No.I, Denkanikottai.