KALPANA DUTTA Vs. SREI EQUIPMENT FINANCE PRIVATE LTD.

JUDGEMENT

(1.) The criminal proceeding being Case no. CS/407394/14 under Sec. 138 read with Sec. 141 of the Negotiable Instrument Act 1881, (in short N.I. Act) has been assailed by the petitioner herein.

(2.) The allegation levelled in the complaint is that MS Karunamoyee Construction Pvt. Ltd. entered into a loan cum hypothecation agreement with the opposite party no.1 M/S Srei Equipment Infrastructure Finance Pvt. Ltd and to discharge part debts and/or liabilities against the said agreement, the company issued three cheques drawn on Bank of Baroda through its directors in favour of opposite party no.1. It is further alleged that said cheques were deposited for encashment within the validity period but the cheques were dishonoured on the ground 'fund insufficient and payment stopped by the drawer'.

(3.) The complainant through his advocate sent demand notice but since the payment was not made in terms of demand notice, the aforesaid complaint case has been filed by opposite party no.1 herein under Sec. 138/141 of the N.I. Act.