The main legal point established in the judgment is the court's discretion to quash proceedings under Section 138 of the Negotiable Instrument Act, 1881, based on the compensatory and punitive elements of the offense, the option for compounding the offense, and the court's discretion to close the proceedings in the interests of justice.

ORDER

1. Heard.

All the petitions raise common question of facts and law, therefore, they are being decided by this common or- der. However, for the sake of convenience, the facts are be- ing derived from M.Cr.C.No.9113/2016.

This petition has been filed by the petitioners under Section 482 of Cr.P.C for quashing the proceedings on the ground of one time settlement, pending against them in the Court of Additional Chief Judicial Magistrate/Special Judge, Bhopal in R.T.No.2487-A/2004 (M.P.State Industrial Development Corporation Ltd. Vs. M/s Som Power Private Ltd & others) under Section 138 of Negotiable Instrument Act, 1881 (hereinafter referred to as 'Act 1881' for the sake of brevity).

2. Shorn of unnecessary facts, the brief facts of the case is that M/s Som Power Pvt. Ltd is a public limited company registered under the provisions of the Companies Act, 1956 ( 'M/S SPPL' for the sake of brevity).

(ii) Madhya Pradesh Industrial Development Corporation (for short MPSIDC) had sanctioned and disbursed the amount of Rs.2 crores by way of financial assistance in the form of Inter Corporate Deposit to 'M/s SPPL'.

(iii) Towards repayment of the aforesaid financial assistance/legal debt, M/s SPPL had issued 8 cheques in favour of MPSIDC.

(iv) Total amount of 8 cheques were issued for Rs.2,87,23,562/-. These cheques presented for encashment, but dishonored and MPSIDC has filed 6 complaint cases under Section 138 of 'Act, 1881' in the Court of Additional Chief Judicial Magistrate/Special Judge, Bhopal.

(v) The details of R.T.No., M.Cr.C.Case No., Cheque nos, Cheque dates, Cheque amount are as follows:-

(vi) The aforesaid cases filed under Section 138 of 'Act 1881' are still pending before the Additional Chief Judicial Magistrate, Bhopal.

3. It is urged by counsel for the petitioners that this petition has been filed for quashing the proceedings pending against the petitioners. He submits that except six complaint cases, no recovery proceedings are initiated or pending till date against 'M/s SPPL'. However, right to initiate proceedings for recovery of the amount under the provision of State Financial Corporation Act, 1951 is available to the respondent and if they so require they can initiate such proceeding in accordance with law. He urged that total amount under 8 cheques which are subject matter of 6 complaint cases filed under Section 138 of 'Act, 1881' is Rs.2,87,23562/- as against principal amount of Rs.2,00,000,00/-(two crore) and petitioners are ready to pay the cheque amount and with an adequate amount of fine the pending proceeding can be set aside.

4. Counsel for respondent has opposed the said request made by counsel for the petitioners stating that petition under Section 482 of Cr.P.C is not maintainable for the reason that the petitioners should have made this request before the Court, where proceedings under Section 138 of Act, 1881 is pending. This Court cannot take away the right to dispose of the case by the trial court and petition can be entertained only when such a request if any is made before the Court below is rejected, but without making any such request and moving an appropriate application before the trial court such a request cannot be made before this Court by filing petition under Section 482 of Cr.P.C. He submits that it is a complete prerogative and domain of the court below to decide as to whether proposal made by the petitioners has to be ac