JUDGMENT

INDU MALHOTRA, J:

(1) The present Special Leave Petitions have been filed against the common judgment and order dated 27.09.2013 passed by the High Court of Judicature at Madras in Criminal Revision Case Nos. 1657 and 1658 of 2008. That after issuance of notice, Special Leave Petitions were heard finally.

Leave granted.

(1.1) These Appeals arise out of two complaints filed under S.138 of the Negotiable Instruments Act (“the N.I. Act”) filed by the appellants against the respondent for dishonour of two cheques of Rs.37,00,000/-and Rs.14,00,000/- respectively.

(2) The facts of the case briefly stated are as under: -

(2.1) The appellants submit that they were inducted in Maanihada Tea Produce Company Pvt. Ltd. being run by the respondent to infuse capital by way of deposits and shares.

(2.2) On 24.11.1998, the appellants resigned as Directors of the Company after which the respondent and his son, DW-3, remained in-charge of the Company.

The appellants submitted that the respondent failed to return their share in the company. The appellants made demands for re-payment of their dues.

On 07.08.2002, the respondent issued a Promissory Note for Rs.51,00,000/-in favour of K. Posa Nandhi –