ESSAR PROJECTS LIMITED Vs. WPIL LIMITED

JUDGEMENT

(1.) This is an application for quashing of a proceeding being case No. C-2537/99 under S. 138/141 of the Negotiable Instruments Act pending in the Court of learned Metropolitan Magistrate, 14th Court, Calcutta.

(2.) The present opposite party No. 1 filed a petition of complaint before the ld. Metropolitan Magistrate, 14th Court, Calcutta alleging commission of the offence under S. 138/141 of the N. I. Act against the present petitioners. In the petition of complaint it was alleged that in discharge of existing liability arising out of two purchase orders placed by the petitioner No. 1, the petitioner No. 1 company issued two cheques bearing Nos.02622 dated 31-12-1998 amounting Rs. 48,04,872/- towards advance of 10 percent of total contractual value and cheque No. 026221 dated 31-12-98 amounting Rs. 22,31,143/- towards payment of initial advance of 10 per cent of total contractual value against the second order. Both the cheques were drawn on Central Bank of India, Corporate Finance Branch, Mumbai in favour of the opposite party No. 1. The said cheques were presented for encashment and the same was dishonoured by the bank and were returned with the intimation from the petitioners' banker with the remark "insufficient fund". Thereafter demand notice was sent to the drawer of the cheque and on failure to make the payment of the cheque amount the petition/complaint was filed.

(3.) It should be mentioned here that earlier a revisional application was preferred before this Court with a prayer for quashing of the aforesaid proceeding. The said revisional application was numbered as CRR 2548/2000. The said revisional application was finally disposed of by this Court on 8-3-2001. On perusal of the judgment delivered by this Court it appears that at the time of final hearing of the said application the ld. counsel appearing on behalf of the petitioner did not press the prayer for quashing of a proceeding before this Court and it was prayed that all the points taken in the revisional application might be kept open to be agitated at the appropriate stage of the proceeding.