P.N.STALIN Vs. L.KUZHANTHALVELU

JUDGEMENT

(1.) This Criminal Miscellaneous Petition has been filed praying to permit the petitioner to deposit the Cheque amount of Rs.2,00,000/-, before the Judicial Magistrate Court No.II, Srivilliputtur, to the credit of the case in C.C.No.249 of 2002.

(2.) The petitioner, who is accused in C.C.No.249 of 2002 in a private complaint filed by the respondent, for the offence under Sections 138 and 141 of Negotiable Instruments Act. The complaint was filed against four persons of which A1 is Jai Fire Works (P) Ltd., a Company; A2 and A3 were its Directors and A4 is the Managing Director of the 1st Accused Company.

(3.) The case is that during the month of October 2001, the accused borrowed a sum of Rs.2,00,000/-, as hand loan, to develop his business and agreed to repay the loan amount with 24% interest, for which, on 22.01.2002, the accused had issued three cheques, bearing Nos.954240, 504900 and 954201 respectively for a sum of Rs.1,00,000/- and Rs.50,000/- and Rs.50,000/-, drawn in State Bank of India (SBI), Sivakasi Branch. The respondent / complaint presented the cheques in his account at SBI, Srivilliputtur Branch, the same was returned, as "Exceeds Arrangements", by its Memo dated 15.07.2002. On 23.07.2002, the complainant issued statutory Notice, to the accused, for dishonour of cheque. The accused received the same and sent a reply on 06.08.2002, denying the liability.