PRAKASHBHAI HARIBHAI DESAI Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) RULE. Rule made returnable forthwith. Heard the learned Counsel for the parties.

(2.) TO state in brief, the respondent No.2 filed the complaint under Section 138 of the Negotiable Instruments Act against Piyush Wire Netting Industries, a partnership firm and four of its partners. The present petitioner is accused No.3 and shown to be one of the partners of that firm. According to the complainant Bank, the accused No.1 firm had availed Bill Discounting Facility to the extent of Rs.40 lakh from the complainant. For repayment and for part discharge of the legally enforceable debt, the accused No.2 Piyush H. Desai issued a cheque for a sum of Rs.6 lakh drawn on the account of Nin Trading Pvt.Ltd. maintained with Bank of Baroda. The cheque was presented to the drawee Bank, but was returned unpaid with the remark "Insufficient Funds". According to the complainant, inspite of service of statutory notice on all the accused persons, the payment of the cheque amount was not made. Therefore, the complaint under Section 138 of Negotiable Instruments Act was filed against all of them.