GAGANDEEP SINGH SWANI Vs. DALJIT SINGH GREWAL

JUDGEMENT

(1.) The present petition has been filed under Sec. 528 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short 'BNSS') seeking quashing of complaint bearing No. COMA/4885/2023 dtd. 15/3/2023 filed under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter 'NI Act' read with Sec. 420 of the Indian Penal Code, 1860 titled- 'Daljit Singh Grewal vs. Swani Motors Services Pvt. Ltd.' as well as summoning order dtd. 16/3/2023 (Annexure P-1) passed by the learned Judicial Magistrate Ist Class, Ludhiana.

(2.) Briefly, the facts, as alleged, are that on 1/11/2015, the respondent-complainant and his brother leased a property in Ludhiana to the company of the petitioner. However, the company of the petitioner failed to pay the agreed rent, causing the parties to enter into another Extended Leave and License deed dtd. 10/11/2021. According to this agreement, the multiple cheques were issued by the accused, however on presentation for encashment, the same was dishonoured. Thereafter, a second agreement dtd. 14/10/2022 was entered into by the parties by virtue of which the old cheques were replaced with fresh ones. Consequently, one of the cheques bearing No.707443 dtd. 1/2/2023 for Rs.5,00,000.00 was presented for encashment. However, the same was dishonoured vide memo dtd. 3/2/2023 with the remarks- 'funds insufficient.' Hence, the present complaint.

(3.) Learned counsel for the petitioner inter alia contends that the company of the petitioner, that is the drawer of the cheque, was admitted to Corporate Insolvency Resolution (CIR) process under the Insolvency and Bankruptcy Code, 2016 (for short 'IBC) vide order dtd. 28/10/2022 (Annexure P-3) by the learned National Company Law Tribunal, Chandigarh. In furtherance of the same, Interim Resolution Professional (IRP) was appointed and a moratorium was declared under Sec. 14 of the IBC. Per Sec. 17 of IBC, the board of directors of the accused company stands suspended with immediate effect on commencement of the CIR process and the management of affairs of the accused company i.e. the corporate debtor falls under the purview of the Interim Resolution Professional. However, the legal notice dtd. 14/2/2023, much after the dishonor of the disputed cheque, was issued to the company and not the IRP. As such, the learned trial Court ought not to have entertained the complaint(supra) as it was instituted after the commencement of CIR proceedings. As such, the petitioner and the accused company cannot be implicated in the present proceedings under the NI Act. Reliance in this regard is placed on the judgment rendered by the Hon'ble Supreme Court in Vishnoo Mittal vs. M/s Shakti Trading Company 2025(2)R.C.R.(Criminal) 371.