PREETHA Vs. RAJU CHETTIAR

JUDGEMENT

(1.) This Criminal Original Petition has been filed to quash the proceedings relating to S.T.C.No.54 of 2011, pending on the file of the Fast Track Court (J.M. Level), Theni.

(2.) The petitioners herein are Accused Nos.3 and 4 in S.T.C.No.54 of 2011 on the file of the Fast Track Court (J.M. Level), Theni. The respondent - M/s.Raju Chettiar Firm filed a private complaint against the petitioners and two others under Section 138 r/w. 142 of the Negotiable Instruments Act, 1881 [hereinafter referred to as 'the Act'], in which, he made an allegation as the cheque issued by the first accused company in favour of the respondent/complainant was dishonoured as insufficient funds and thereby, being the Directors the petitioners herein are also to be held responsible for the offence punishable under Section 138 of the Act.

(3.) Admittedly, the respondent Firm is a Partnership Firm. The impugned cheque was issued by the Managing Director P.K.Mahamuni on behalf of M/s.Sri Karuv Spinners (P) Ltd. The said Company is incorporated under the Companies Act and carrying on business at No.35/94, Sasthanivas, Mangalam Road, Thirunagar, Thiruppur. As per the case of the petitioners, one P.K.Mahamuni in the capacity of Managing Director looking into the day-to-day affairs of the Company, issued a cheque in favour of the respondent in the course of business transaction. Subsequently, due to dishonour of the cheque, the respondent filed the complaint against four accused, in which, the petitioners are arrayed as A3 and A4.