AGARWAL TRADING CO. Vs. LATOOR LAL

JUDGEMENT

(1.) THE respondent Latoor Lal through his General Power of Attorney Holder Roop Chand Bansal filed a complaint under Section 138 of the Negotiable Instruments Act (hereinafter referred to as 'the Act') with the averments that he wanted to invest his money in someone else's business on interest basis, hence an amount of Rs. 50,000/ - was given to Shri Roop Chand Bansal, General Power of Attorney Holder, who in turn handed over this amount to the accused with the stipulated interest and when the money was demanded back a cheque was given in the name of Latoor Lal which was bounced and a statutory notice was served but no payment was made by the accused. Therefore, a complaint by the attorney holder under Section 138 of the Act was filed in the Court of Addl. Chief Judicial Magistrate No. 1, Kota. The trial Court after recording statement of the General Power of Attorney Holder vide order dt. 01.12.2005 took cognizance against the petitioners herein under Section 138 of the Act. Feeling aggrieved of the said order of the trial Court, the petitioners have approached this Court by filing the present petition under Section 482 Cr.P.C.

(2.) HEARD learned Counsel for the petitioners.

(3.) HAVING heard learned Counsel for the petitioners, I have gone through the material available on the record of the case and also the provisions of the Act.