PANKAJ ANAND MUDHOLKAR Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) These Misc. Petitions under Sec. 482, Cr.P.C. have been preferred by the Petitioners herein for quashing of proceedings of (Downloaded on 18/6/2024 at 08:10:45 pm) Complaint No.10057/14, filed under Sec. 138 of the Negotiable Instrument Act, 1881 (in short the 'NI Act') by Respondent No.2, before learned Judicial Magistrate, No.2, Gangapur City, Sawaimadhopur.

(2.) It is the case of the Petitioners and so contended by their Counsel that the proceedings have been initiated by Respondent No.2 against the Petitioners before the learned Trial Magistrate, under Sec. 138 of the N.I. Act purportedly on the ground that Petitioners were active Directors in Neesa Leisure Ltd. (hereinafter referred to as "the Company") where Respondent No.2 made two Fixed Deposits on 12/9/2013 and 21/9/2013 of Rs.4,00,000.00 (Four Lakh Rupees) each. According to him, Cheque bearing No.032149, dtd. 11/3/2014 for an amount of Rs.4,00,000.00 (Four Lakh Rupees) was issued by one Manoj Singhal, who happens to be Managing Director of the Company and another Cheque bearing No.056468, dtd. 20/3/2014 for an amount of Rs.4,00,000.00 (Four Lakh Rupees), was issued by Authorized Officer of the Company. The said Cheques were dishonored and returned to the Complainant's Banker with remark 'insufficient funds'. As per the Complaint submitted by Respondent No.2, the both the Cheques were purportedly issued by Manoj Singhal, Managing Director of the Company and Authorized Officer of the Company respectively in discharge of the legally enforceable liability towards him.

(3.) It is submitted that Smt. Neelu Gupta and Shri Pankaj Anand Mudholkar, Petitioners herein, ceased to be Directors in the said Company, on 22/3/2013 and 25/6/2013 respectively which is at least a year prior to the issuance of the Cheques in question. After resignation from the Company, Petitioners were not responsible for the acts of the Company as they were not concerned at all with the affairs of the Company. The resignations of the Petitioners were also notified to the Registrar of Companies/Ministry of Company Affairs (herein after referred to as "MCA" for brevity) by the Managing Director of the Company by way of filing Form 32 and same is a Public document.