AMIT B. BORKAR
Bharath Automobiles – Appellant
Versus
State of Maharashtra – Respondent
JUDGMENT/ORDER
1. Challenge in this petition is to the order dtd. 3/4/2019 passed in a proceedings under Sec. 138 of the Negotiable Instruments Act, 1881.
2. The respondent No.1 filed a complaint under Sec. 138 of the Negotiable Instruments Act, 1881 contending that the accused No.1/Company through accused No.2 and with knowledge and consent of accused no.3 approached the complainant with request for short term financial facility of Rs.1,50,00,000.00. Accordingly, the complainant disbursed loan of Rs.1,50,00,000.00. The accused No.2 executed demand promissory note in favour of the complainant acknowledging disbursement of amount. Thereafter, the accused No.1 approached the complainant for renewal cum enhancement of existing facility of Rs.50,00,000.00 which was sanctioned on 26/5/2017. Therefore, total loan disbursed in favour of the accused was to the tune of Rs.2,00,00,000.00. Towards satisfaction of the said legally enforceable liability, accused No.1 issued cheque of Rs.1,61,48,178.00 which was dishonoured. After following procedure as required under Sec. 138 of the Negotiable Instrument Act, 1881, the complaint was filed on 23/8/2018.
3. By order dtd. 3/4/2019, the learned Magist
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.