KRISHNA PALLIS PVT. LTD. Vs. HALDIA PETROCHEMICALS LTD.

JUDGEMENT

(1.) Petitioners have filed the present petition for quashing the proceedings of the complaint under Sec. 138 of Negotiable Instruments Act, pending before the learned court of Special Railway Magistrate, Jammu and also order dtd. 26/3/2018, passed by learned Additional Sessions Judge, Jammu in File No. 44/Rev.

(2.) In this petition, it is stated that petitioner No. 2 was not a Director of the Company/Firm at the time of issuance of cheque in question, so process issued against her is illegal. It is stated that Form 32, issued in pursuant to Ss. 303(2), 264(2), or 266 (1) (a) and 266 (1) (b) (III) of the Companies Act, 1956 clearly reveals that petitioner No. 2 has ceased to be director of the Company w.e.f. 22/1/2010, whereas the cheque in question was issued thereafter on 12/4/2010, so cognizance taken against petitioner No. 2 is illegal and against the settled principle of law.

(3.) I have considered the record of the court below.