Mr. Justice R.N. Mittal, President — Briefly the facts are that respondent Nos. 1 is a Chit Fund Company and respondents No. 2 and 3 are its Directors. Respondent No.4 is the Registrar, Chit Funds, Delhi Administration. The respondents Nos. 1 to 3 started one Chit of Rs. 1,00,000/- bearing No. JCF-1 with 25 subscribers for 25 months. The complainants became subscribers to the said Chit holding ticket No. 14.

2. An auction was held in respect of the said Chit on 28th March, 1991 in which the complainants were declared the prized subscriber and became entitled to receive a sum of Rs. 95,000/-. Respondent No.l accordingly issued two cheques in the sum of Rs. 50,000/- and Rs. 45,000/- in their favour. The cheque of Rs. 45,000/- was duly honoured, but the cheque bearing No. 692599 dated 5-6-91 in the sum of Rs. 50,000/- drawn on Syndicate Bank, Tilak Nagar, New Delhi was not honoured and the same was returned to the bank of the complainants with the remarks ‘insufficient funds’.

3. It is further pleaded that respondent Nos. 1 to 3 were duly informed that the cheque of Rs. 50,000/- had not been honoured. However, they failed to pay the said amount till date. Consequently the complaina