BRIJ KISHORE A MEHTA Vs. ADITYA SECURITIES LIMITED

JUDGEMENT

(1.) THE petitioner, who is the accused in C. C. No. 4317 of 2001 on the file of the learned VII Metropolitan Magistrate, George Town, Chennai, who is facing trial for an alleged offence under Section 138 of the Negotiable Instruments Act, has filed the above Criminal Original Petition seeking to quash all further proceedings therein.

(2.) A perusal of the complaint shows that towards the amount due to the respondent, the petitioner is said to have issued a cheque bearing No. 267192, dated 07. 08. 2000 drawn on Tamilnad Mercantile Bank Ltd. , Broadway, Chennai, for a sum of Rs. 1,25,000/- in favour of the respondent. When the said cheque was presented on 07. 02. 2001 with the payee bank for encashment, the same was returned by the drawee payee with an endorsement 'insufficient funds'. After complying with the statutory requirements, the complaint has been filed and the same has been taken on file. Being aggrieved by that the above Criminal Original petition has been filed.

(3.) HEARD the learned counsel on either side.