M/S. SHIVANGEE MEDICOS Vs. MONICA NARANG

JUDGEMENT

(1.) Prayer in this petition is for quashing of the complaint filed under Sec. 138 of the Negotiable Instruments Act with further prayer to stay the proceedings before the Magistrate during the pendency of the petition.

(2.) It is worth noticing that in reply to a Court query whether after filing of the complaint, the trial Court has issued any summoning order against the petitioners, it is stated at Bar that only the complaint is instituted, however, no summoning order has been passed by the trial Court. However, the counsel insisted upon arguing the case, though on face of it is pre-mature.

(3.) Brief facts, as set up by the petitioners, are that a collaboration agreement was executed between petitioners No.1 to 3 and its associates with the respondent-complainant and certain amount was invested as equity share by complainant and certain financial transactions as per the statement of account had taken place between the parties.