ARCHANA MITTAL Vs. ANAND RATHI GLOBAL FINANCE LTD.

JUDGEMENT

(1.) The petitioner is an accused in complaint case No. 1701/2021. In the instant petition under Sec. 482 Cr.P.C, the petitioner has challenged the complaint petition as well as order of cognizance dtd. 9/4/2021 passed in the aforesaid complaint case and the subsequent orders of summons and issuance of warrant of arrest. The challenge is on the ground that the complaint petition as well as cognizance order both suffer from non compliance of mandates of law rather they are contrary to the provisions of law.

(2.) The factual matrix of the case is that the petitioner is Director of Mercator Limited Company, a company incorporated under the Companies Act. The respondent Anand Rathi Global Finance Limited is a non banking company. On 3/11/2017, the petitioner and respondent Company executed a loan agreement at Mumbai for a credit facility in the nature of working capital loan for a sum of Rs. twenty crores. At the time of execution of loan agreement, the petitioner had submitted certain documents including post dated cheques with clear stipulation in the agreement that those cheques may be used by the lender in realization of due amount.

(3.) Mr. V.R. Bajwa, learned Senior counsel for the petitioner contends that for payment of the same due amount, first cheque was presented and for dishonour of the same above referred complaint case was filed before the Court at Mumbai. There was no reason or legal authority with the respondent to use the second cheque for realization of the same amount. Learned counsel has relied upon the judgment of the Hon'ble Supreme Court in Lalit Kumar Sharma and Anr. v. State of U.P. and Anr., reported in 2008 5 SCC 638.