MAJOR SREEKUMAR SREEDHARAN POTTI Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) HEARD learned counsel for the petitioner and learned counsel for the State as also learned counsel for the complainant opposite party No.2.

(2.) THE petitioner is aggrieved by the order dated 6.10.1999 passed by learned Judicial Magistrate, Ranchi, in Complaint Case No.342 of 1999, whereby prima facie offence under Section 138 of the N.I. Act was found against the petitioner and other co -accused persons.

(3.) THE Complaint Case No. 342 of 1999 was filed by the complainant opposite party No.2 in the Court of the Chief Judicial Magistrate, Ranchi, in which, M/s Field Springs Builders Pvt. Ltd., Banglore, (herein after referred to as the 'Company'), has been made accused along with its Directors. The petitioner is accused No. 5 in the said complaint case and it is stated in the complaint petition that the petitioner is also one of the Directors of the Company. From the allegations made in the complaint petition, it appears that there was some transaction for immovable property, in which, five cheques were issued for repurchase of the property. It is also alleged that subsequently the accused No. 2, who is one of the Directors of the Company, issued three cheques in the name of the complainant assuring that those would also be paid. It is also alleged in the complaint petition that these cheques were issued by way of collateral security to the complainant with the full consent of all the accused persons. The cheques, when deposited in the Bank, were dishonoured, where after, the notice was issued to the accused No. 1 and 2 only, and when after due notice, the payment was not made, the complaint case was filed against the Company and its Directors.