NEW TEKNEEK INDUSTRY THROUGH ITS PARTNER-BHUSHAN VERMA AND OTHERS Vs. POLYLON FABRICS PRIVATE LIMITED THROUGH ITS DIRECTOR-NIKHIL GUPTA

JUDGEMENT

(1.) Present petition has been filed under Section 482 of the Code of Criminal Procedure, 1973 (for short "Cr.P.C.") for quashing of Complaint dated 24.12.2015 (Annexure P-4) as well as summoning order dated 24.12.2015 (Annexure P-5), passed by the learned Judicial Magistrate 1st Class, Panipat, whereby the petitioners have been summoned for the commission of offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (for short 'the Act').

(2.) Brief facts of the case are that respondent-M/s Polylon Fabrics Private Limited Ltd. filed a complaint under Section(s) 138/142 of the Act through its Director-Nikhil Gupta against the petitioners by alleging that the complainant is doing the business of manufacturing and sale of different kind of fabric/s as well as zip/s across the country. Petitioner No.1 is alleged to be a registered Firm, whereas petitioner No.2-Kul Bhushan Verma @ Bhushan Verma and petitioner No.3-Vipin Mittal are its partners and thus, they are liable to the act, conduct and ratification of the said Firm. It is further alleged that the complainant/respondent was having the business dealings with the petitioners and in due course, the petitioners purchased the material from the respondent since the Financial Year 2013 onwards in the bulk quantities and there was outstanding payments against the petitioners. It is further alleged that in the Financial Year 2013-2014, bulk purchase of Rs.9,06,23,490/- was made and against which, the petitioners issued a Credit Note of Rs.32,92,390/- and paid Rs.7,74,89,911/- plus General Transfer through M/s Lokesh Textile of Rs.58,470/- and Cash tender of Rs.1,00,000/- adjusting Rs.4,09,496/- on account of cheque bounce. Thereafter a sum of Rs.38,62,860/- was carried forward for the subsequent Financial Year as balance outstanding after adjustment of rebate and discount of Rs.28,47,429/-

(3.) Similarly, for the Financial Year 2014-2015, the bulk purchase was made worth Rs.26,72,98,882/- and again a Credit Note of Rs.25,34,388/- was issued and thereafter, for the Financial Year 2015-2016, till October, 2015, the petitioners purchased material worth Rs.16,56,92,601/-.