VINOD VYANKAT NARSAIH GANNU Vs. SUNIL DIWAKAR POSHETTIWAR

JUDGEMENT

(1.) The issues involved in these two appeals are -

(2.) The cases for failure to pay the amount of dishonoured cheques have been dealt with by the trial Magistrate. The present respondent-accused has been acquitted. Those cases have got a background. The complainant is a Non-Resident Indian (NRI). He has formed a partnership in the year 2001 with the respondent-accused. The business of the firm was of manufacturing, distributing and marketing of Ayurvedic and other products. The firm's name was M/s. P.G. Pharma.

(3.) The amount of Rs.18.00 lakhs was brought into India in dollars by the complainant and it was invested with the firm M/s. P.G. Pharma. The firm was appointed as a Clearing and Forwarding Agent by three companies. These three companies have accepted deposits from the firm. The amount invested by the complainant to the tune of Rs.18.00 lakhs was used towards the deposits kept with those three companies. The business run well for two years.