B. V. RANGA RAJU, J.

( 1 ) THIS petition under Section 482 of Cr. PC has been filed by the 6th accused in CC No. 218 of 1997 on the file of the VI Metropolitan Magistrate, for Railways, Visakhapatnam for quashing the proceedings in the said case.

( 2 ) RESPONDENT No. 1 is a company wholly owned by the Government of India is the complainant in this case. There were some transactions between the complainant and Al company (M/s. Raghunath Cotton and Oil Products) as commission agent. Certain amounts were found due from the accused No. 1 company to the complainant and subject to final settlement the accused agreed to pay Rs. 135 lakhs and issued a cheque dated 6-11-1994 for Rs. 65,00,000. 00drawn on State Bank of India, Ongole Branch on the account of accused No. l company. Another cheque dated 29-11-1994 for Rs. 70 lakhs drawn on the same bank on the same account was also issued under the signature of the Managing Director of the Company who is the second accused in that CC. The complainant presented the cheques for collection in their bank, namely, State Bank of India, Ongole on 22-11 -1994. The cheques were returned on the ground that sufficient funds are not available in the account

Click Here to Read the rest of this document