JUDGMENT :

SANJAY KISHAN KAUL, J.

1. Dayashankar Chaurasia, the respondent issued eight (8) cheques of Rs. 20,000/- each totalling to Rs. 1,60,000/- in favour of M/s. Bell Marshall Telesystems Limited (for short ‘the Company’). The cheques were drawn on HDFC Bank, Vasai (E) Branch, Mumbai. These cheques were drawn on different dates but were presented together for payment on 10.05.2006. All the cheques got dishonoured on account of “funds insufficient” as per Bank Memos issued on 12.05.2006. On the cheques being dishonoured, legal notices were issued by the beneficiary under Section 138(b) of the Negotiable Instruments Act, 1881 (hereinafter referred to as the ‘NI Act’) on 26.05.2006. The demand was, however not met within fifteen (15) days of the receipt of the notice nor was any reply sent which resulted in the complaint bearing No. 160/SS/07 being filed on 07.07.2006 by Mr. Bhupesh Rathod before the Special Metropolitan Magistrate, Mumbai. The complaint was accompanied by a Board Resolution of the Company dated 17.05.2006 authorising Mr. Bhupesh Rathod to initiate legal action against the respondent on behalf of the Company. On 24.12.2007, the Company filed an affidavit through it