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PUNJAB AND HARYANA HIGH COURT AT CHANDIGARH
MANISHA BATRA
Imagine Residence Pvt. Ltd. – Appellant
Versus
Indiabulls Housing Finance Ltd. – Respondent
JUDGMENT :
Manisha Batra, J. (Oral)
The instant petition has been filed by the petitioners under Section 528 of Bharatiya Nagarik Suraksha Sanhita, 2023 (which is pari materia with Section 482 of Cr.P.C.) seeking quashing of Criminal Complaint bearing NACT No. 39309/2022, titled as Indiabulls Housing Finance Ltd. vs. Imagine Residence Pvt. Ltd. and others, filed under Section 138 of the Negotiable Instruments Act, 1881 (for short 'N. I. Act') as pending before the Court of learned Judicial Magistrate First Class, Gurugram as well as for quashing all the proceedings having emanated therefrom including order dated 31.03.2023 (Annexure P-2), whereby the petitioners have been ordered to be summoned as accused.
2. As revealed from the record, the aforesaid complaint has been filed by the respondent-company against the petitioners on the allegations that they had availed loan amounting to Rs. 80,00,00,000/- (Rupees eighty crores) from the respondent by executing an agreement and by agreeing to abide by the repayment schedule. A post dated cheque bearing No. 291721 dated 05.04.2022 for a sum of Rs. 6,60,92,246/- was issued by the petitioners in favour of the respondent with assurance of its
The legal presumption under Section 139 of the NI Act favors the complainant, and factual disputes must be resolved at trial, not pre-trial.
The legal provisions of the NI Act create a deeming offence for dishonour of cheques and establish a presumption of debt or liability upon the holder of the cheque, with a reverse onus cast on the ac....
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