AJAY KUMAR BISHNOY Vs. TAP ENGINEERING

JUDGEMENT

(1.) These petitions have been filled under Section 482 of the Criminal Procedure Code by the former Managing Director of M/s.Tecpro Systems Limited. The prayer in these criminal original petitions is for quashing the complaints instituted by M/s.Tap Engineering under Section 138 r/w.141 of the Negotiable Instruments Act, 1881. The complainant is a proprietary concern. It is engaged in the business of manufacturing and sale of pumps, motors and accessories. It had business transactions with M/s.Tecpro Systems Limited. The supply of goods used to be based on the purchase orders placed by the Tecpro Systems Limited. The case of the complainant is that even though goods were supplied, payments were not made. Following persistent requests, Tecpro Systems Limited issued eight post dated DBS bank cheques to the complainant towards discharge of their liability. The cheques were presented. They were, however, returned for the reason "insufficient funds". The returned cheques were re-presented. Again, they were dishonoured. Thereupon, Tap Engineering issued legal notices. Though a partial payment was made in respect of one dishonoured cheque, Tecpro Systems Limited failed to make payments with regard to the other cheques.

(2.) In view of the non compliance of the demand set out in the legal notices, Tap Engineering represented by its Proprietor filed C.C Nos.160, 161, 162, 163, 164, 165 and 166 of 2014 before the jurisdictional Magistrate court. Cognizance of the offence under Section 138 r/w 141 of the Negotiable Instruments Act, 1881 was taken and summons were issued. Tecpro Systems Limited was shown as the first accused. The petitioner herein was shown as the second accused in each of the complaints.

(3.) During the pendency of these complaints, Tecpro Systems Limited came under Corporate Insolvency Resolution Process. One of its financial creditors filed application under Section 7 of the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal, New Delhi. The application was admitted and by order dated 07.08.2017, an Interim Resolution Professional was appointed and moratorium in terms of Section 14 of the Code was declared. The resolution plan submitted by Kridhan Infrastructures Private Limited was accepted. By order dated 15.05.2019, the Principal Bench of the National Company Law Tribunal, New Delhi declared that the resolution plan is binding on the corporate debtor, members, employees of the corporate debtor, creditors of the corporatedebtor and other stakeholders involved in the resolution plan. It is seen from the Annexure that Tap Engineering has been recognised as one of the operational creditors of the Tecpro Systems Limited and its claim as on 21.10.2017 was Rs. 1,06,91,645/-. The resolution plan provided for change in the management. The control of the corporate debtor was to vest with the resolution applicant-KIPL.