RAMESH DESHPANDE Vs. PUNJAB AND SINDH BANK

JUDGEMENT

(1.) RULE, Returnable forthwith. Heard both sides. This writ petition arises out of a complaint filed by the respondent before the Metropolitan Magistrates Court at Esplanade, Bombay in Case No.---/93 (158/s/99) against the petitioners. The first respondents case in short before the Metropolitan Magistrate is that the respondent No. 2 (accused No. 1) has drawn a pay order dated 18-10-1992 for and on behalf of M/s. Poise Leasing and Finance Co. Ltd. payable to the respondent No. 1 for an amount of Rs. 48,40,000/ -. According to the complainant the aforesaid pay order was issued by respondent No. 2 in discharge of the liability of M/s. Poisoe Leasing and Finance Co. Ltd.

(2.) ON receipt of the pay order the Punjab and Sindh Bank debited the amount covered by it to the account of M/s. Poise Leasing and Finance Co. Subsequently when the cheque was presented to the accused No. 1, it was not honoured. A Notice under section 138 has been sent to the accused, and even after 15 days of the receipt of the notice the payment has not been made. It is in these circumstances that the first respondent filed the above complaint before the Magistrates Court.

(3.) THE writ petitioner (accused No. 4) filed this petition for quashing the proceeding on the ground that the complaint filed by the first respondent is not maintainable, as no offence has been disclosed under section 138 of N. I. Act. Petitioners contentions are two fold.