CHENDUR TEX Vs. M SUNDARAMOORTHY

JUDGEMENT

(1.) THE petitioners herein, who are accused in C. C. No. 473 of 2005 on the file of Judicial Magistrate No. II, Erode, seek to call for the records pertaining to the proceedings in the above case and quash the same.

(2.) IT is alleged that the petitioners have borrowed Rs. 40,000/- from the respondent/complainant and by way of discharging the liability, they issued a cheque bearing No. 136064, dated 27. 07. 2005, for Rs. 40,000/- drawn on the UCO Bank, Erode Branch, and on 08. 08. 2005, the cheque was presented for collection. It is the further allegation that the cheque was dishonoured, whereupon, a legal notice dated 25. 08. 2005 was issued to the petitioners/accused and, in spite of receipt of the notice, the amount mentioned in the cheque was not paid, resulting in filing of the complaint before the learned Magistrate.

(3.) LEARNED counsel for the petitioners submits that the cheque has been issued in the name of the complainant by name Sundaramurthy, who, in turn endorsed the same in favour of Vadivamabal Tex; in such circumstances, Vadivambal Tex became the holder in due course. Further, the cheque has also been deposited in the bank account of Vadivambal Tex and it was returned unpaid on 08. 08. 2005 on the ground 'funds insufficient'. According to the learned counsel, inasmuch as Vadivambal Tex has become the holder in due course, the complaint preferred by Sundaramurthy, who is the original drawee of the cheque and not the holder in due course, is not maintainable at all.