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2012 Supreme(Bom) 2375

K.U.CHANDIWAL
Carissa Investment Pvt. Ltd. – Appellant
Versus
Mahabal Realty Pvt. Ltd. – Respondent


Advocates Appeared:
For the Applicants:Shirish Gupte @ Ketan Chotani, Advocates.
For the Respondents:R1, Jatin P. Shah, Advocate, A.R. Patil, APP.

Judgment:-

Heard finally. Criminal application no.1187 of 2011 is moved by the accused nos.1 & 4applicants challenging order of process confirmed by the learned Additional Sessions Judge dated 5th October, 2011. Writ petition no.983 of 2012 is moved by the original complainant questioning quashing of process against respondent nos.2 and 3 (original accused nos.2 and 3).

2. The parties are referred as complainant and accused. On the complaint of Mahabal Realty Pvt.Ltd. under Section 138 read with 141 of the Negotiable Instruments Act, the learned Judge issued process after recording verification on 17th December,2008.

3. The complaint proceeds on the accusation that in discharge of legally enforceable liability in respect of financial assistance rendered by the complainant to the accused no.1 from time to time, a cheque of Rs.10 crores was issued. An agreement was entered into between the parties. The complainant used to send statement of accounts in respect of loan transaction (financial assistance) to accused no.1. Since there was default in repayment of outstanding dues in terms of the agreement, the complainant company sold shares given to them by way of security for clearing t

























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