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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
J.SREENIVAS RAO
V. Narayana Reddy – Appellant
Versus
State of Telangana Rep. by its Public Prosecutor – Respondent
COMMON ORDER:
J. SREENIVAS RAO, J.
These Criminal Petitions are filed under Section 482 of the Code of Criminal Procedure, 1973 (for short, ‘Cr.P.C.’) by the petitioners/accused Nos.3 and 4 seeking to quash the proceedings in C.C.Nos.1607, 1476 & 1617 of 2016 and 185 of 2017 respectively, on the files of the XVIII Additional Chief Metropolitan Magistrate, Secunderabad, for the offence under Section 138 of the Negotiable Instruments Act, 1881 (for short, ‘the NI Act’).
1.1. Since the parties and the issues involved in all four criminal petitions are similar, they were heard together and are being disposed of by this common order.
1.2. The parties hereinafter referred to as they were arrayed in the complaints.
2. Brief facts of the case:
Respondent No.2-complainant filed private complaints stating that IFCI Limited is a Government of India company and a financial institution within the meaning of Companies Act, 2013, and is engaged in the business of providing short and long term financial assistance. Accused No.1 is a company registered under the Companies Act, having its registered office at Hyderabad and is engaged in infrastructure development projects/services. Accused Nos.2 and 3 are
Statutory notice for cheque dishonor must be issued within prescribed time; failure or competence of complaint representative are factual matters for trial, not grounds for quashing under Section 482....
Directors of a company can be held vicariously liable under Section 141 of the Negotiable Instruments Act if they were in charge of the company's affairs at the time of the offense.
The liability of the company and its officers under Section 141 of the Negotiable Instruments Act was established based on the specific averments in the complaint and the company's reply, and the cou....
A person who is not a signatory to the cheque cannot be prosecuted under Section 138 of the Negotiable Instruments Act, 1881, for the offence of dishonour of cheque for insufficiency of funds.
The judgment emphasizes the importance of trial to determine liability under settlement agreements and the applicability of Section 141 of the N.I. Act. It also clarifies the conditions under which t....
Liability of directors under Section 138 of the Negotiable Instruments Act depends on their active role and responsibility for the company's business conduct, not merely their directorship.
The main legal point established in the judgment is that a complaint filed by a company under Section 138 of the Negotiable Instruments Act must be in the name of the company and can be represented b....
The presumption under Section 139 of the N.I. Act in favor of the complainant regarding legally enforceable debt remains unless the accused proves otherwise.
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