Point of Law: Court may take cognizance after expiry of period of limitation, if it is satisfied on facts and in circumstances of case that delay has been properly explained and that it is necessary so to do in interest of justice.

JUDGMENT :

Heard Ms. S. Sarma, learned counsel for the petitioner. Also heard Mr. M. Khataniar assisted by Mr. J. Deka, learned counsel for the respondent.

2. By this petition under Section 482 Cr.P.C., the petitioner has prayed for quashing of the proceedings in Complaint Case No.2654C/2016 under Section 138 of the Negotiable Instruments Act, 1881 (for short ‘N.I. Act’), pending in the Court of learned Chief Judicial Magistrate, Kamrup(M) at Guwahati.

3. The case of the prosecution, in brief, is that the accused company, namely Annada Tea Company (P) Ltd. represented through its Managing Director, Naba Sharma (the petitioner herein) requested the complainant company, namely M/s Korangani Tea Company Pvt. Ltd. for financial assistance to tide over acute financial crisis faced by the accused company. The complainant company, upon good will and good relation prevailing between the two companies agreed to provide financial help to the accused company. The Director of the accused company by communication, dated 17.12.2014, wrote to the complainant company seeking financial assistance and assured that if any financial assistance is received, the same will be adjusted against supply of green tea leaves from the Kaliapani T.E. owned by the accused company within the season for the year 2015. Accordingly, the complainant company (respondent herein) deposited an amount of Rs.23,60,000/- (Rupees Twenty Three Lakhs Sixty Thousand) to the account of the petitioner, the Managing Director of Annada Tea (P) Ltd. by various cheque payments drawn on United Bank of India and the petitioner took personal guarantee to return the money if the same is not adjusted by supply of green tea leaves within the season year, 2015. However, the accused company failed to supply green tea leaves to the tune of the total amount Rs.23,60,000/-. To adjust the debts against the complainant company, the accused company issued various bills dated, 06.07.2015, 21.06.2015, 02.06.2015, 20.05.2015, 04.05.2015 for supply of green tea leaves to the complainant company and adjusted amounts received in the account of the petitioner towards the advance payment of Rs.23,60,000/-. The last bill sent to the complainant company was dated 06.07.2015, wherein Rs.2,50,000/- advanced to the petitioner was adjusted and balance was Rs.12,60,000/-. After calculation, the complainant company found that total amount of Rs.10,16,106.25/- was found as outstanding amount towards supply of green tea leaves.

4. After six months of completion of the season year, 2015, the accused petitioner, in order to liquidate the liability, issued three number of cheques- (i) Cheque No.547466, dated 01.06.2016 amounting to Rs.2,60,000/- (ii) Cheque No.547459, dated 04.06.2016 amounting to Rs.4,50,000/- and (iii) Cheque No.547456, dated 04.06.2016 amounting to Rs.3,25,000/- drawn on SBI Chenikuthi Branch, Guwahati in favour of the complainant company (total Rs.10,35,000/- including Rs.18,893.75 extra for delay in liquidating the debt on time).

5. The above three cheques were presented for payment on 07.06.2016, but the same were returned unpaid as dishonoured for insufficiency of funds on 08.06.2016 which fact was duly informed by the complainant company to the accused on 09.06.2016. However, the accused did not pay any heed to the grievance of the complainant upon which the complainant issued legal notice, dated 01.07.2016 which was delivered to the accused in his address. After lapse of one month since dispatch of the said legal notice as the accused failed to make payment of the outstanding amount, the instant case was filed against the accused petitioner.

6. Ms. S. Sarma, learned counsel for the petitioner, submitted that from the materials available on record it is apparent that the petitioner was no longer connected with the affairs of the Annada Tea Company (P) Ltd., which was taken over by the Assam Cooperative Apex Bank Ltd. on 22.07.2015 under the provisions of Section 15(1)(a) of the Securitization an