ASHOK RAMACHANDRAN Vs. P.DAMODHARAN

JUDGEMENT

(1.) The petitioner is the 4th accused in C.C.No.472 of 2012 on the file of the learned Judicial Magistrate No.VI, Coimbatore.

(2.) The first respondent/complainant filed a private complaint before the Judicial Magistrate No.VI, Coimbatore, under Section 200 of Cr.P.C., against the present petitioner as well as three other accused, for the alleged offences punishable under Sections 138, 141 and 142 of the Negotiable Instruments Act.

(3.) The case of the first respondent/complainant is that the first accused Sea Queen Shipping Service (Pvt) Ltd., Company, is a clearing and forwarding agent and the second accused is the Managing Director of the said Company. The further contention of the respondent/complainant is that accused 2 to 4 who were the Directors of the first accused Company jointly approached the respondent/complainant and borrowed a sum of Rs.8,25,000/- on 15.02.2011 for the purpose of developing their business and agreed to pay the said amount together with interest at the rate of 12% per annum. According to the complainant, the accused 1 to 4 paid a sum of Rs.1,25,000/- by way of demand draft dated 31.03.2011 and promised to pay the balance amount within a period of five months.