D. ARUN BABU Vs. P. NAGARAJ

JUDGEMENT

(1.) This Criminal Original Petition has been filed to quash the charge sheet in C.C.No.687 of 2018 on the file of learned Fast Track Judicial Magistrate Court, Ambattur.

(2.) Heard both sides.

(3.) The case of the respondent is that both of them are friends and the petitioner induced the respondent to invest money in the business run by the accused 1 to 3 under the name and style of M/s.Integrated Process Oil and Gas Pvt. Ltd. and promised to pay interest at the rate of 12% per annum. As the respondent is a retired bank employee, he has invested his retirement benefits along with other loan amount, totally a sum of Rs.77,50,000.00 through bank transactions as well as by way of cash in the 1st accused company. But, contrary to their promise, they have paid only a part sum of money was paid as interest till July 2017. Hence, the respondent demanded for payment of interest as assured by the accused, thereby, they have issued 3 cheques for part of payment, but the same were returned as insufficient funds from the bank. Thereafter, he has issued a legal notice dtd. 10/9/2018 to them, which were returned with an endorsement as 'left', 'refused' and 'unclaimed' respectively. Aggrieved over the same, the respondent preferred a complaint under Sec.200 of Cr.P.C. for the offence under Sec.138 of Negotiable Instruments Act in C.C.No.687 of 2018 before the learned Fast Track Judicial Magistrate Court, Ambattur. Now, to quash the said complaint, the 4th accused preferred this Criminal Original Petition.