B.N. Karia, J.

1. As requested by Mr. Tejas P. Satta, learned advocate appearing on behalf of the applicant, leave to delete respondent No. 5 from the cause title of the application is allowed.

2. The applicant-accused No. 4 has preferred this application under Section 482 of the Code of Criminal Procedure, 1973 {"CrPC" for brevity} for quashing and setting aside the complaint, being Criminal Case No. 1244 of 2013 filed before the court of Learned Metropolitan Magistrate, Ahmedabad for the offence punishable under Section 138 of the Negotiable Instruments Act, 1881, and all other consequential proceedings arising therefrom.

3. The facts leading to filing of the present application are as under;

3.1 That, the respondent No. 3-Company IMaritime Consultancy Pvt. Ltd. is a duly incorporated, established and registered as a Company under the provisions of the Companies Act, 1956. It is duly managed, operated and actively controlled by the accused Nos. 2, 3 and 4 and all of them are taking parts in the day-to-day affairs of the business of the Company. They all are individually and jointly responsible/liable for the said business of the Company. That, the said accused Nos. 2, 3 and 4 had, for and on behalf of the said Company, unanimously had taken a decision and contacted the complainant Company for requirement of INTER CORPORATE DEPOSIT (ICD) of Rs. 1,00,00,000/-, vide its Inter Corporate Deposit letter dated 19.10.2012 and sent it to the complainant Company under the signature of accused No. 2, followed by letter of documents for ICD dated 19.10.2012. That, on receipt of said two letters, and in connection with the said ICD, the accused persons had purchased a Non Judicial Stamp Paper of Rs. 100/- and on a stamp paper, Memorandum of Understanding was executed under the signature of the accused No. 2; for and on behalf of accused No. 1 Company, in pursuance to a duly taken decision of the accused Nos. 3 and 4 and on other side, under the signature of Mr. B. Ravi, Chief Financial Officer, APSEZL.

3.2 That, on execution of the said MOU, the complainant Company sent RTGS letter dated 22.10.2012 as applicant and in favour of the said accused as beneficiary for the amount of Rs. 1,00,00,000/- (Rupees one Crore only), through cheque No. 561404 dated 22.10.2012 in favour of AXIS bank Ltd. Law Garden Branch, Ahmedabad, to be deposited in the said Bank. That, the accused persons received said amount on 22.10.2012 of Rs. 1,00,00,000/- @ 12% per annum for 180 days through RTGS from the complainant Company, and in response to such payment, the said accused persons through their authorized person i.e., the accused No. 2 issued a receipt dated 22.10.2012 in favour of the complainant Company.

3.3 The said accused persons had, through their authorized person i.e., the accused No. 2, also issued a Demand Promissory Note dated 22.10.2012 for Rs. 1,00,00,000/- @ 12% per annum, in favour of the said complainant Company, which was duly signed by the said accused No. 2 for and on behalf of the other accused persons. That, the said complainant Company had enlarged Rs. 1,00,00,000/- as ICD to the said accused persons, and the said accused had received the said amount through RTGS, and hence, the said accused persons became responsible/liable for the repayment of the said amount to the complainant Company as on the day fixed and on demand.

3.4 That, the said accused persons, in response to fulfillment of their legally enforceable debt towards the complainant Company had issued two cheques in favour of the complainant-company, being (A) cheque No. 887218 dated 20.04.2013 for Rs. 1,00,00,000/- drawn on RBS-The Royal Bank of Scotland N.V. Sakhar Bhavan, Nariman Point, Mumbai duly signed by accused No. 2 as an authorized person of bank account No. 446078, in favour of Adani Ports and Special Economic Zone Limited, and (B) cheque No. 887220 dated 20.04.2013 for Rs. 5,32,603/- drawn on RBS-The Royal Bank of Scotland N.V. Sakhar Bhavan, Nariman Point, Mumbai