DEEPAK BAWA SHARMA Vs. ASIF IQBAL

JUDGEMENT

(1.) Heard learned counsel for the parties at length and perused the record.

(2.) The present petition has been filed under Sec. 482 of the Code of Criminal Procedure, 1973 (hereinafter, Cr.P.C ), seeking quashing of complaint proceedings pending before the Trial Court under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter, the Act ).

(3.) The factual matrix, as emerging from the record, reveals that the respondent/complainant instituted a complaint under Sec. 138 of the Act, alleging dishonour of cheque to the tune of Rs.35,00,000.00. It is stated that the petitioner was engaged in construction of villas at Sainik Colony, Jammu, and the complainant had booked one villa for a consideration exceeding Rs.35,00,000.00 which transaction failed to fructify. In discharge of the alleged liability, the petitioner is stated to have issued a cheque of Rs.35,00,000.00, which, upon presentation, was dishonoured, resulting in initiation of proceedings under Sec. 138 of the Act.