K.RAMASWAMY, G.B.PATTANAIK
Electronics Trade and Technology Development Corp. Ltd. Secunderabad – Appellant
Versus
Indian Technologists and Engineers (Electronics) P. Ltd. & Anr. – Respondent
Leave granted.
2. We have heard the counsel on both ides.
3. The appellant laid the complaints under Section 138 of the Negotiable Instruments Act, 1881 (for short, 'the Act') for dishonour of cheque for insufficiency of the funds in the accounts of the accused. The complaints of he appellant read thus:
"The above cheque was .presented by the complainant on 28.1.1990, through their Bankers M/s. Hyderabad Bank, Sarojlni Devl Road, Secunderabad for realisation, with the promise by the accused, that the same will be honoured when presented. However, the said cheque was dishonoured with the Banker's endorsement dated 29.11.1990. "1. referred drawer. 2. instructions for stopping payment and 3. stamped exceeds arrangements". It is evident from the Banker's memo dated 29.11.1990 that the said cheque was dlshonoured by the Bank for want of funds only.
On receipt of the Intimation dated 29.11.1990 from the Bank, the complaint has issued a notice on 6.12.1990 to the accused by Registered Post Acknowledgement Due, informing him that the cheque dated 30.6.1990 was dishonoured by their bankers and demanded payment within 15 days from the date of receipt of the said notice he said notice was r
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