K MURALIDHAR RAO Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) This petition is filed under Section 482, Cr. P.C. to quash the proceedings in CC No. 325 of 1997 on the file of the Vth Metropolitan Magistrate, Hyderabad.

(2.) The facts in giving rise to the petition are, briefly, as follows :- The second respondent, M/s. Genius Financial Services Limited, filed complaint against the petitioner for the offences under section 138 and 142 of the Negotiable Instruments Act (for short the 'Act') alleging that the petitioner approached the complainant for a loan of Rs. 3,00,000.00 and the same was sanctioned on 17-9-1995 repayable on 17-1-1996. He sought extention of time for repayment of the said loan amount from time to time and ultimately issued a cheques for Rs. 50,000.00 to discharge part of the liability on 31-12-1996 drawn on Canara Bank, Somajiguda Branch, Hyderabad in favour of the complainant and the same was presented and it was returned from the bank with an endorsement 'funds insufficient'. Then the complainant got issued notice to the petitioner-accused for the dishonour of the cheque and calling upon him to pay the amount. The petitioner received the notice on 17-1-1997. As the petitioner-accused failed to pay the said amount, he filed complaint under the above sections of law.

(3.) Now the petitioner-accused filed this petition to quash the proceedings.