SUKUMAR RAMALINGAM Vs. CANBANK FACTORS LTD.

JUDGEMENT

(1.) This Criminal Original Petition has been filed seeking to quash the proceedings in C.C.No.688 of 2012, pending on the file of the Judicial Magistrate No.II, Tiruppur.

(2.) The case of the 1st respondent/complainant is that the 1st accused is the company viz., M/s.Fast Flying Fashionss India Private Limited, Tiruppur, 2nd accused is the Managing Director and the petitioner/A6 and A3, A4, A5, A7 are its Directors. The respondent was engaged in the business of providing of Factoring facilities to different business organizations and the 1st accused company was liable to pay a sum of Rs.2,00,00,000/- being the total amount to the respondent. In discharge of the liability, the 1st accused issued four cheques as follows:-

(3.) When the respondent presented the said cheques through M/s.Canara bank, Tirupur, the cheques have been returned and dishonoured as "Exceeds Arrangement"?. The respondent issued a legal notice on 08.08.2012 to the 2 nd accused and on receipt of the legal notice, the accused has not paid the cheque amount to the respondent. In keeping with the provisions of Section 141 r/w Section 138 and 142 of the Negotiable Instruments Act, the respondent preferred a complaint. Challenging the same, the present petition has been filed by the petitioner/A6.