RAM CHANDRA AGARWAL Vs. STATE OF U P

JUDGEMENT

(1.) COMMON questions involved in all the aforesaid applications relate to the question as to whether liability can be transferred to subsequent buyer of the company which has drawn cheques for discharge of its debt or liability under Section 138 of Negotiable Instruments Act (herein after referred to as N.I. Act). Since this question is involved in all the aforesaid applications, it is deemed proper to decide them by a common judgement.

(2.) IN order to determine this issued Application U/s 482 No. 14646 of 2012 is taken as leading case and in order to appreciate the controversy involved certain facts are required to be noted for proper adjudication of the case, which is as under:

(3.) STATUTORY notice was issued by the complainant to the accused to make the payment within a period prescribed therein. Receiving no response from the applicants in this behalf present complaint has been filed before the Trial Court.