MAHENDRA KUMAR AGARWAL Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) The revision has been preferred praying for quashing of proceeding in Case No. CS No. 21059 of 2019, under Sec. 138/141 of the Negotiable Instrument Act, 1881 pending before the Leaned Metropolitan Magistrate, 6th Court, Calcutta and all orders passed therein in the aforesaid case including the orders dtd. 29/4/2019, 10/6/2019 and 15/1/2020, whereby a warrant of arrest has been issued by the Learned Magistrate against the petitioner.

(2.) The Petitioner's case is that the complainant/opposite party no. 2 had filed a complaint inter alia, alleging commission of offences punishable under Sec. 138 read with Sec. 141 of the Negotiable Instruments Act 1881 against the petitioner herein before the Learned Chief Metropolitan Magistrate, Calcutta and the same was registered as CS 2105 of 2019.

(3.) The said complaint is to the effect that the complainant/opposite party no. 2 had granted a loan of Rs.10,00,000.00 (Rs. Ten Lacs) to the present petitioner for a period of 120 days bearing interest @ 12% per annum on 12th of August, 2016. The said loan of Rs.10,00,000.00(Rupees Ten Lacs) was renewed from time to time and was last renewed on August, 2018 and was repayable on December, 2018. The petitioner for discharge of his subsisting liability and debt towards the complainant/opposite party no. 2 signed and issued a cheque drawn on Axis Bank Limited, Madhapu, Hyderabad - 500081 being Cheque 046791 dtd. 1/12/2018 for a sum of Rs.10,00,000.00 (Rupees 10 Lacs) drawn in favour of the complainant towards repayment of the principal amount on the loan. The said cheque was deposited by the complainant/opposite party no. 2 to her bank account in Standard Chartered Bank, Shakespeare Sarani Branch within the validity period of the said cheque for collection of the proceeds and the said cheque on being presented was dishonoured and returned back with the remarks "FUNDS INSUFFICIENT". The said cheque was returned to the complainant/opposite party no. 2 by her banker on 25/2/2019. Thereafter the complainant/opposite party no. 2 caused a demand notice dtd. 12/3/2019 to be issued through her Learned Advocate addressed to the petitioner herein demanding payment of the said amount of Rs.10,00,000.00 (Rupees 10 Lacs) covered by the abovementioned cheque, but inspite of expiry of 15 days from the date of receipt of the said demand notice the petitioner failed to pay the said amount and hence the complainant/opposite party no. 2 had filed this complaint before the Learned Magistrate.