PRASHANT DINGRA Vs. CHENAB TEXTILES MILLS

JUDGEMENT

(1.) A complaint has been filed before the Chief Judicial Magistrate, kathua under Sections 420, 120b and 34 rpc by respondent 1 against the petitioner and respondent 2. The cognizance of the case has been taken by the trial court and accordingly process has been issued against the petitioner and respondent-2. It is under these circumstances, that the present petition has been filed by the petitioner in this court.

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

(3.) BEFORE adverting to the controversy raised in this petition, it is important to note the allegations levelled in the complaint. The respondent 1 is a company carrying business of manufacturing of Fabrics items such as threads etc. An order was placed by respondent 1 complainant for supply of yarn worth Rs. 48,69,225 with the petitioner. A letter of Credit for Rs. 53,23,500 was opened by petitioner with Oriental Bank of commerce, Overseas Branch, HSIDC Building, Udyog Vihar, Gurgaon. Condition of letter of Credit was that the shipment had to reach by 20. 9. 06, which could further be extended by 26. 9. 06. The said date was extended by 5. 10. 06 on the request of respondent1. The payment was required to be made to the supplier-respondent 1 after the production of goods and transport receipts. The goods were supplied by respondent-1 on various dates amounting Rs. 48,69,225. The failure on part of petitioner to make payment has necessitated the filing of present complaint.