Sinha, J. -- 1. Leave granted in SLPs.

2. Two cheques dated 23.6.2001 and 30.6.2001 for a sum of Rs. 1,24,406/- each were issued in favour of the respondent allegedly on behalf of a company known as Karnataka News Net (Bangalore) Ltd. The appellants herein were not directors of the said company at the material time. Two complaint petitions were filed by the respondent herein before the Addl. Chief Metropolitan Magistrate, Bahgalore wherein appellants were described as accused Nos. 6 and 8. In the said complaint petitions, it was categorically stated that the company which had been dealing with imparting of computer education in rural areas represented by its Managing Director Chairman, Vice-Chairman and other Directors borrowed a sum of Rs. 2,25,000/- from the respondent on an interest of 24% per annum. Towards payment of the said loan, the accused had issued two cheques on 23.6.2001 and 30.6.2001 for a sum of Rs. 1,24,406/- each which upon being presented were dishonoured as the company did not have sufficient fund. In the complaint petition, it was averred:

"(7) The complainant submits that the accused persons have failed to clear the liability. The accused being company