ARJUN ARORA Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) Instant petition under Sec. 482 of the Code of Criminal Procedure, 1973 has been preferred on behalf of the accused- petitioner against the order dtd. 28/6/2018 passed by the Court of Rent Appellate Tribunal, Jaipur Metropolitan (Additional Sessions Judge (Summer Vacation) (herein-after referred to as Rs.the Revisional Court'), in Criminal Revision Petition No. 22/2018, whereby while partly allowing the revision petition, directed the petitioner to pay the exorbitant interest @ 18% per annum from the date of cheque till the date of payment and imposed the costs of Rs. 50,000/-, and the order dtd. 6/12/2017 passed by the Court of Special Metropolitan Magistrate (N.I. Act Caes) No. 13, Jaipur Metropolitan (herein-after referred to as Rs.the Trial Court'), dismissing the application filed by the petitioner to drop the proceedings, was partly set aside.

(2.) Relevant facts, in brief, of the present case are that on 9/11/2016 the complainant-respondent No. 2 filed a criminal complaint (Annexure-1) against the petitioner for commission of offence punishable under Sec. 138 of the Negotiable Instruments Act, 1881 alleging therein that a share purchase agreement dtd. 10/11/2015 was executed between the parties. The petitioner issued two cheques i.e. No. 000026 dt.16/6/2016 amounting to Rs. 65,00,000/- and No. 000029 dt.30/6/2016 amounting to Rs. 59,02,144/- of the Bank of Baroda, Bandra (West) Bandra, which on presentation were returned due to insufficient funds on 26/8/2016. A legal notice dtd. 23/9/2016 was sent to the petitioner and despite receipt thereof on 28/9/2016 the amount was not paid within the period of fifteen-days expiring on 12/10/2016. Upon criminal proceedings being initiated by the complainant, the amount of aforesaid cheques in total Rs. 1,24,02,144/- was deposited in the bank account of the complainant on dtd. 3/11/2016, after the expiry of prescribed period.

(3.) The learned Trial Court, vide its order dtd. 12/1/2017 (Annexure-2) took cognizance against the petitioner. After service, the petitioner appeared before learned Trial Court and moved an application (Annexure-3) to drop the proceedings on the ground that the amount of Rs. 1,24,02,144/- in relation to cheques-in-question has already been transferred in the bank account of the complainant on 2/11/2016.