ASHOK B. JESWANI Vs. REDINGTON INDIA LIMITED

JUDGEMENT

(1.) The Petitioners herein are the Second and Third Accused, convicted in a Private Complaint initiated under Sec. 138 of the Negotiable Instruments Act, 1881. Aggrieved by the Judgment of Conviction and Sentence, they along with the First Accused-Company had preferred Appeal and the same is pending on the file of the Session Court at Chennai. The Petitions filed for suspension of Sentence was allowed on conditions to deposit 20% of the Compensation amount. The Petitioners not complied the said conditions, instead citing pendency of their Applications under Sec. 94(a) of IBC before the NCLT, Mumbai, had filed a Memo to stay further proceedings in the Appeal in view of Ss. 94, 96 & 101 of Insolvency and Bankruptcy Code, 2016, which provides for an Interim Moratorium of legal action or proceedings pending in respect of any debt. Those Memos were rejected by the learned Sessions Judge by a Docket Order. Against the Rejection Order, dtd. 22/9/2023 the present Petition under Sec. 482 of Cr.P.C. is filed.

(2.) The Docket Order which is impugned in this Petition read as below: Perused representation conditional Order passed by the Hon'ble Principal Judge. It appears none of the ground rises here (in the Memo) have been agitated before the Hon'ble Principal Judge. Till date, no extension of time was also sought for by the Petitioners before the Hon'ble Principal Judge. In such circumstances, this Court is not inclined to accept the Memo. Hence, Memo rejected."

(3.) The learned Counsel appearing for the Petitioners submitted that C.C. No.1425/2016 taken cognizance by the Metropolitan Magistrate, Fast Track Court at Magistrate Level-V, Saidapet, Chennai, is a Private Complaint presented by M/s Redington India Limited through its Power of Attorney against M/s Pacific Infotech Private Limited represented by its Directors. The two Directors of the First Accused-Company are the Petitioners herein. The Trial Court vide, its Judgment, dtd. 19/6/2023 held that the First Accused-Company and its two Directors are guilty of offence under Sec. 138 of the Negotiable Instruments Act, 1881 for issuing Cheques for Rs.1,34,23,970.00 without sufficient fund, but instructing the Bank to stop payment. The Trial Court sentenced these two Petitioners to undergo Simple Imprisonment for a period of Nine months and all the accused to pay jointly the Cheque amount as Compensation to the Complainant.