MOHAMMED KASIM Vs. K. RAYAPPAN

JUDGEMENT

(1.) Criminal Revision Case is preferred against the order passed in C.M.P.No.2015 of 2014 dated 17.09.2014 on the file of the learned Judicial Magistrate No.1, Gobichettipalayam.

(2.) Material on record discloses that the petitioner has floated, a company in the name and style "Realway Investment and Forex Trading India Limited" and running the same, at D.No.86, Sri Subburam Complex, Kutcherry Medu, Gopichettipalayam. Advertisements have been made in newspapers that if deposits are made as per the schemes, rich dividends would be paid. Believing the same, on 28.03.2009, the respondent deposited Rs.5,00,000/- and thereafter, a further sum of Rs.2,80,000/- was also deposited by way of ICICI Cheques. Thereafter, a sum of Rs.2,20,000/- was paid in cash. In all Rs.10,00,000/- was deposited. Dividends for the first two months alone was paid. Thereafter, despite request, no payment was made.

(3.) It is the further case of the complainant that on 28.05.2010, in the capacity of an authorised signatory of Realway Enterprises India Private Limited, the 1st petitioner gave a cheque bearing No.002841 for Rs.3,28,000/- drawn on ICICI Bank, West Mambalam Branch, Chennai. The respondent presented the cheque on 01.06.2010 in ICICI Bank, Gopichettipalayam. The Cheque was returned with an endorsement "funds insufficient". Statutory notice given was acknowledged and the petitioner requested for two weeks time, and further requested to represent the cheque on 15.06.2010. Cheque represented on the said date was returned. Hence, on the complaint under Section 138 of the Negotiable Instruments Act, read with 190 (1)(a) Cr.P.C, a case in S.T.C.No.2566 of 2010 has been taken on file by the learned Judicial Magistrate No.1, Gopichettipalayam.