BUNTY FINANCE CO Vs. AVTAR SETHI

JUDGEMENT

(1.) PETITIONER-COMPANY filed a complaint under section 138 of Negotiable Instruments Act read with section 420 RPC before the trial court against the respondents. The allegations leveled in the complaint were that in order to discharge part of liability of debt by the respondents a cheque No. 0238436 dated 5. 3. 2004 for an amount of Rupees eight lakhs was issued in the name of petitioner-company. On the presentation of this cheque before the State bank of India, ADB Canal Road, Jammu, the same could not be encashed as the payment was not arranged for by the accused-respondent. On the filing of the complaint an objection was taken that the cheque has been presented beyond the time prescribed under the Act. It was'stated that the complaint is time barred as it has been presented 14 days beyond the period of limitation.

(2.) THE trial court after hearing the parties has dismissed the complaint of the petitioner on the ground that the cheque has been presented beyond the period of limitation. The trial court while accepting the plea of the petitioner regarding 11 days delay it has not found the explanation tendered by the petitioner regarding delay with effect from 26th April to 29th May 2004 as sufficient. The court held that the petitioner has not explained this delay from 26th April 2004 to 29th May 2004, as a result of which there is no sufficient cause to condone the delay.

(3.) I have heard the learned counsel for the parties and perused the record.