SHANMUGAVELAYUDAM Vs. KRISHNAN

JUDGEMENT

(1.) This criminal original petition has been brought forth by the petitioner, who is shown as an accused in C.C.No.344 of 2002 on the file of the learned Judicial Magistrate, Ambasamudram, seeking to quash the proceedings pending in that calendar case.

(2.) Heard the counsel for the petitioner as well as respondent, who has made a complaint which is the subject matter in C.C.No.344 of 2002. Admittedly, one Muppidathy was a subscriber to the chit conducted by the Tenkasi branch of Sree Visalam Chit Fund Ltd. He was a successful bidder in an auction and drew the prize amount. For the payment of future instalments, the complainant stood as a guarantor and offered his properties as security. Since there was a default in payment of the subscription amount, the Company filed a suit in O.S.No.563 of 1988 on the file of the learned District Munsif, Tenkasi and obtained a decree. The Company initiated execution proceedings in E.P.No.110/96 on the file of the learned District Munsif, Ambasamudram for the sale of the attached property belonged to the complainant/respondent. Under the stated circumstances, the payment of Rs.5000/- was made in part satisfaction of the decree amount. A receipt was also issued for the said amount.

(3.) Pending the execution proceedings, the respondent herein filed the instant complaint alleging that he paid a sum of Rs.5000/- to the accused Shanmugavelayudam, the Branch Manager of the said financial institution, who without giving credit to the same, has misappropriated breaching the trust of the complainant. The same was taken cognizance by the learned Judicial Magistate, Ambasamudram, in C.C.No.344 of 2002. Aggrieved over the same, the accused has brought forth this criminal original petition.