YANKAY DRUGS AND PHARMACEUTICALS LIMITED Vs. CITI BANK

JUDGEMENT

(1.) This Criminal Petition is filed under Section 482, Cr. P. C., seeking quashing of the proceedings in Calendar Case No. 591 of 1998, pending on the file of the XV Metropolitan Magistrate, Hyderabad.

(2.) The petitioner herein is the sole accused in the said Calendar Case, which was instituted on the complaint given by the 1st respondent herein to punish the petitioner for the offence under Section 138 of the Negotiable Instruments Act (for short "the Act").

(3.) The case of the 1st respondent-complainant is that towards discharge of equated monthly installments of the loan payable by the petitioner-accused, he issued a cheque dated 1-5-1998 for Rs. 9,972.00. When that cheque was presented to the drawee bank for realization, it was returned with an endorsement "insufficiency of funds" by memo dated 12-5-1998. Immediately, the complainant issued a legal notice on 19-5-1998 calling upon the petitioner to pay the amount. Since there was no response from the petitioner, the complaint was filed. Along with the complaint a copy of the notice issued by the complainant was also filed.