A.ARUMUGHASWAMY
Agate Finance Limited – Appellant
Versus
L. S. P. Agro Limited rep. By Managing Director Mr. B. S. Krishnan – Respondent
1. These appeals arise out of the common judgment dated 12.7.2007 passed by the learned VI Metropolian Magistrate, Egmore, Chennai in C.C.Nos.10573/2001, 4277, 4278, 4279, 4280, 4281, 4487 to 4501, 4603 to 4607, 4613, 4614 and 4615 of 2002.
2. The accused in all these cases are common and the complainant is also common. These appeals have been filed challenging the acquittal of the respondents/accused by the trial court.
3. In all these cases, the prosecution has been launched by the complainant for the offence punishable under Section 138 of the Negotiable Instruments Act in respect of the alleged business transaction between the complainant and the accused party. There were 29 cheques issued by the accused for Rs.5 lakhs each which were presented for collection. Most of the cheques were dishonoured on the ground that there was no sufficient funds in the account of the accused and the rest of the cheques were dishonoured on the ground that there had been "stop payment" order issued by the account holder to the bank. The complainant issued a statutory notice as required under Section 138 of the Negotiable Instruments Act. The said notice was not complied with by the accus
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