AB. RASHEED BHAT Vs. HDFC BANK LTD.

JUDGEMENT

(1.) The petitioner has challenged complaint filed by respondent against him for offence under Sec. 138/142 of Negotiable Instruments Act (for short NI Act), which is pending before the Court of Chief Judicial Magistrate, Pulwama. Challenge has also been thrown to the order of the learned Magistrate whereby process has been issued against the petitioner as also to order dtd. 1/8/2018 passed by learned Additional Sessions Judge, Pulwama, whereby a revision petition against the aforesaid order of the learned Magistrate has been dismissed.

(2.) It appears that the respondent has filed a complaint against the petitioner alleging commission of offence under Sec. 138 of NI Act, which is pending before the learned trial Magistrate. In the said complaint it is alleged that the petitioner has availed credit facility to the tune of Rs.2.75 crores from the respondent Bank. It is further alleged that the petitioner failed to regularize/liquidate the loan amount and the loan account shows an outstanding amount of Rs.3.50 crores. It has been submitted that the petitioner/accused issued post dated cheques for outstanding liability in favour of the respondent Bank vide cheque bearing No.021598 dtd. 19/5/2017 drawn on HDFC Bank, Pulwama, for an amount of Rs.2.75 crores. It has been alleged that when the said cheque was presented before the Bank on 25/5/2017, the same was dishonoured for insufficiency of funds in terms of memo dtd. 25/5/2017. It is further averred in the impugned complaint that a legal notice of demand dtd. 5/6/2017 was sent through registered post to the petitioner which was received by him on 16/6/2017 but he failed to pay the cheque amount within the stipulated period which compelled the respondent to file the impugned complaint.

(3.) It appears that the learned Magistrate, after recording the preliminary evidence of the respondent/complainant, issued process against the petitioner in terms of order dtd. 20/7/2017. It also appears that the petitioner moved an application for dropping of proceedings before the learned trial Magistrate but the same was dismissed in terms of order dtd. 2/3/2020. A revision petition came to be filed by the petitioner before the Court of learned Additional Sessions Judge, Pulwama, but the same was also dismissed in terms of order dtd. 1/8/2018.