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IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH
HARPREET SINGH BRAR
Babalgeet Singh – Appellant
Versus
HDFC Bank Ltd. – Respondent
JUDGMENT :
Harpreet Singh Brar, J.
This order of mine shall dispose of both the petitions as detailed above, as they arise from similar facts and circumstances. However, for the sake of brevity, facts are taken from CRM-M No.63462 of 2023.
2. The petitioner has approached this Court by the filing present petition under Section 482 of the Code of Criminal Procedure seeking quashing of criminal complaint under Section 138 of the Negotiable Instruments Act (hereinafter referred to as the 'NI Act'), bearing No.NACT/455/2019 dated 26.07.2019, and all subsequent proceedings arising therefrom (Annexures P-1 and P-3 in the Court of learned Judicial Magistrate 1st Class, Kapurthala, titled as 'HDFC Bank v. Babalgeet Singh' under Section 138 of the NI Act).
FACTUAL MATRIX
3. The brief facts of the present case are that the respondent-complainant is a bank with its registered office at HDFC House, Senapati Bapat Marg, Lower Parel, West Mumbai - 400013, and one of its branches at Kapurthala. The petitioner was granted C.C. Agriculture Limit of Rs.95,00,000/- under Loan Account No. 50200023232498 by the respondent bank. In consideration of sanctioning of aforesaid loan/limit, the petitioner executed
Simultaneous proceedings under the NI Act and SARFAESI Act are permissible, as they serve different legal objectives.
(1) Dishonour of cheque – Once a settlement agreement has been entered into by parties, proceedings in original complaint cannot be sustained and a fresh cause of action accrues to complainant under ....
(1) Dishonour of cheques – Under Section 138 of NI Act, a separate cause of action arises upon each dishonour of a cheque provided statutory sequence of presentation, dishonour, notice, and failure t....
The proceedings under the IBC and the proceedings under Section 138 of the NI Act are of different nature and purpose, and the criminal prosecution under Section 138 of the NI Act would not stand ter....
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