K.RAJENDHARAN Vs. VAISHNAVI YARN STORES

JUDGEMENT

(1.) This Criminal Original Petition has been filed to quash the proceedings in C.C.No.613 of 2014, pending on the file of the learned Judicial Magistrate/Fast Track Court at Magisterial, Karur, initiated by the first respondent under Section 138 r/w 142 of Negotiable Instruments Act.

(2.) The learned counsel for the petitioners submitted that the first respondent initiated the proceedings under the Negotiable Instruments Act, alleging that the complainant's firm, namely, the Asia Yarn Traders during the business transaction a sum of Rs.5,78,400/-, outstanding due accord for which, the accused issued three cheques, all the cheques were presented for collection and the same were dishonored, after issuance of statutory notice, proceedings were initiated under the Negotiable Instruments Act against the accused persons. The petitioners are arrayed as A3 to A6. They were looking out sales and purchase section in the Asia Yarn Traders and subsequently, they were discharged from the partnership firm operated by the seventh accused as early as in the month of September 2014 itself. Even according to the first respondent alleged cheques were issued on 10.10.2014, therefore, at the time of issuance of cheque, the petitioners were the partners and already they have discharged from the partnership firm. On the basis of their discharge, gazette notification as well as the paper publication was effected in respect of publishing the out going partners in Asia Yarn Traders.

(3.) The learned counsel for the petitioners further submitted that in the month of March 2014 itself, the second and third petitioners herein gave a release deed with regard to wind-up the joint business partnership and thereafter, in the month of August 2014, the first and fourth petitioners gave paper publication in respect of their winding up from their joint business partnership being operated by the first and seventh accused. Therefore, the petitioners are no way connected in the business of Asia Yarn Traders and they have not committed any offence as alleged by the first respondent herein.