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T. V. THAMILSELVI
D. Arun Babu – Appellant
Versus
P. Nagaraj – Respondent
JUDGMENT
(Prayer : Criminal Original Petition filed under Section 482 of the Code of Criminal Procedure, to call for the records in C.C.No.687 of 2018 on the file of the learned Fast Track Judicial Magistrate Court at Ambattur and quash the same.)
1. This Criminal Original Petition has been filed to quash the charge sheet in C.C.No.687 of 2018 on the file of learned Fast Track Judicial Magistrate Court, Ambattur.
2. Heard both sides.
3. The case of the respondent is that both of them are friends and the petitioner induced the respondent to invest money in the business run by the accused 1 to 3 under the name and style of M/s.Integrated Process Oil and Gas Pvt. Ltd. and promised to pay interest at the rate of 12% per annum. As the respondent is a retired bank employee, he has invested his retirement benefits along with other loan amount, totally a sum of Rs.77,50,000/- through bank transactions as well as by way of cash in the 1st accused company. But, contrary to their promise, they have paid only a part sum of money was paid as interest till July 2017. Hence, the respondent demanded for payment of interest as assured by the accused, thereby, they have issued 3 cheques f
The need for a detailed trial to determine liability in cases involving business transactions and bounced cheques.
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Defenses to a charge under Section 138 of the Negotiable Instruments Act, such as duress and lack of consideration, are triable issues that cannot be adjudicated in a petition under Section 482 of th....
The necessity of specific averments to fasten vicarious liability on a director under Section 141 of the N.I. Act, and the inability to quash the prosecution based on lack of specific averments in th....
Vicarious liability applies to partners in a firm under Section 141 of the Negotiable Instruments Act, making them accountable for cheques issued by the firm, irrespective of individual management in....
The court emphasized that the exercise of powers under Section 482 Cr.P.C. to quash criminal proceedings is an exception and should be sparingly and cautiously exercised, and that the court cannot ad....
Dishonour of cheque – Consequences of scuttling criminal process at a pre-trial stage can be grave and irreparable.
Directors can be absolved from criminal liability under the Negotiable Instruments Act if they have resigned from the directorship before the issuance of a dishonored cheque and are not signatories t....
Existence of legally enforceable debt under Section 138 NI Act is a trial issue, not for quashing proceedings.
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