RAKESH JUNEJA Vs. MARUTI SUZUKI INDIA LTD.

JUDGEMENT

(1.) This order of mine shall dispose of all the above-mentioned petitions as they arise from a similar factual matrix. However, for the sake of brevity, the facts are taken from CRM-M-10540-2021.

(2.) The present petition has been filed under Sec. 482 of the Code of Criminal Procedure, 1973 seeking issuance of directions prohibiting continuation of proceedings under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter 'NI Act'), against the corporate debtor.

(3.) Briefly, the facts, as alleged, are that the petitioners are directors of respondent No.2- Dee Ess Buhin Pvt. Ltd. Respondent No.2, through the petitioners, approached respondent No.l with an intention to manufacture and sell finished products to be used in Maruti Suzuki cars. Accordingly, an agreement to this effect was entered between the said parties on 3/3/2008. However, in the month of February, 2017, the petitioners informed respondent No.l of their inability to supply the products agreed upon due to adverse financial circumstances. In response to the same, respondent No. 1 agreed to provide financial assistance to them. The petitioners, representing respondent No.2, issued 09 post-dated cheques totaling for an amount of Rs.2,60,00,000.00and assured respondent No. 1 that the same could be encashed if they fail to reimburse it in a time bound manner. Accordingly, cheque bearing No. 190701 dtd. 31/12/2018 for a sum of Rs.25,00,000.00 drawn on Canara Bank, MCB Branch, Faridabad, Haryana was presented for encashment. However, the same was dishonoured vide memo dtd. 19/2/2019 with the remarks- ' account blocked.' Since the petitioners failed to make the requisite payment in the time period stipulated by legal notice dtd. 15/3/2019 (Annexure P-2), a complaint bearing No. NACT-18092-2019 dtd. 29/4/2019 under Sec. 138 read with Sec. 141 of the NI Act and Ss. 406, 420 of the IPC was filed by respondent No. 1.