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SUDHIR KUMAR JAIN
Shalini Securities Private Limited – Appellant
Versus
Lokesh Thakkar – Respondent
JUDGMENT
1. Lokesh Thakkar, who is respondent no. 1 in CRL.M.C.948/2019 and respondent no. 2 in CRL.M.C.4126/2019 (hereinafter referred to as "Lokesh Thakkar") filed a complaint titled as Lokesh Thakkar Vs. M/s Shalini Securities Private Limited & Another bearing complaint case no.37/1/2018 (new Ct. no.3062/2018) under sections 138/141 of the Negotiable Instruments Act, 1881 (hereinafter referred to as `NI Act') against M/s Shalini Securities Private Limited who is the petitioner in CRL.M.C.948/2019 (hereinafter referred to as "M/s Shalini Securities Private Limited") and Amandeep Singh who is respondent no. 2 in CRL.M.C.948/2019 and petitioner in CRL.M.C.4126/2019 (hereinafter referred to as "Amandeep Singh").
2. Lokesh Thakkar pleaded that he and Amandeep Singh were into real estate business and known to each other since 2009. Amandeep Singh along with his brother and other family members prevailed upon Lokesh Thakkar to enter into financial terms with them and also to become business partner and to invest in M/s Shalini Securities Private Limited as Amandeep Singh had assured Lokesh Thakkar of huge gains by investment in the project of Amandeep Singh. Lokesh Thakkar, on assura
The main legal point established in the judgment is the requirement for evidence to determine the circumstances of the cheque issuance and the liability of the parties involved.
The main legal point established in the judgment is that the role of each accused in the commission of the offence can only be determined during the trial and cannot be examined in detail by the cour....
A person who is not a signatory to the cheque cannot be prosecuted under Section 138 of the Negotiable Instruments Act, 1881, for the offence of dishonour of cheque for insufficiency of funds.
Liability under Section 141 of the Negotiable Instruments Act depends on the role played by a person in the affairs of the company at the time of the offence, not just on designation.
Criminal Law - Criminal Trial - Dishonoured of Cheque - Sought for quash of Proceedings - When disputed questions of facts are involved which need to be adjudicated after the parties adduce evidence,....
A former director is not liable for dishonored cheques issued after their resignation, protecting them from criminal liability under the Negotiable Instruments Act.
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