MONOTECH SYSEM LTD. Vs. JAI BADRI VISHAL GRAPHICS

JUDGEMENT

(1.) Brief facts necessary for adjudication of this matter are as under :

(2.) The respondent filed a complaint under section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the 'NI Act') before the Competent Court at Gwalior. The present petitioners by invoking the jurisdiction of this Court under section 482 of Code Criminal Procedure have called in question the legality, validity and propriety of this complaint.

(3.) The case of that petitioners is that Memorandum of Understanding, (MOU) was entered into which is placed as Annexure P/2. As per this MOU, the petitioners paid certain amount to the respondent. However, yet another MOU was entered into between the parties, which is Annexure P/3. As per this MOU (Annexure P/3), an understanding was made between the parties. Learned senior counsel for the petitioners submits that by communication, Annexure P-15, the petitioners informed the respondent that earlier cheque No. 068522 dated 5-5-2010 for an amount of 75.00 Lacs be not presented in the bank for realisation and same be returned to the petitioners for cancellation. In lieu thereof the petitioners enclosed a Cheque No. 069976 dated 12-5-2010 for 5.00 lacs. In nutshell, the petitioners' case as reflected from MOU is that the total amount required to be paid by the petitioners was Rs. 29,21,695.00. Petitioners submit that Rs. 15.00 lacs were paid and remaining Rs. 14,21,695.00 was required to be paid. This amount was paid by issuance of two Cheques No. 069976 for Rs. 5,00,000.00 and No. 068523 for Rs. 9,21,695.00 respectively. Out of these two amounts, a cheque of Rs. 5,00,000.00 was sought to be withdrawn by paying a different cheque as mentioned above. However, the petitioners submit that the respondent after getting the new cheque of Rs. 5,00,000.00 produced all the three cheques, i.e., two cheques for Rs. 5,00,000.00 and one cheque for Rs. 9,21,695.00.