1.

The present petition is filed under section 482 of the Code of

Criminal Procedure, 1973 (hereinafter referred to as“the Code”) to

set aside the order dated 29.01.2019(hereinafter referred to as the

“impugned order”) passed by the Court of Sh. N.K Malhotra

Additional Sessions Judge / Special Judge,CBI-02, Patiala House

Digitally Signed

By:NIDHI

Signing Date:04.12.2023

11:59:29

Signature Not Verified

Page 2

Courts, New Delhi in Criminal Revision bearing no.540/2018 titled

as K. S. Mehta V M/S Morgan Securities& Credits Pvt. Ltd. and

order dated 10.10.2018 passed by the court of sh. Dharmender Singh,

Metropolitan Magistrate- 05, Patiala House Courts, New Delhi in

Complaint Case bearing no.15857/2017 titled as M/S Morgan

Securities& Credits Pvt. Ltd. V Blue Coast Hotels& Resorts

Ltd.& others.

2.

M/S Morgan Securities and Credits Pvt. Ltd. (herein referred

to as “the respondent/the complainant”) through its Authorized

Representative Mahender Gautam filed a complaint under sections

138/141/142 of Negotiable Instruments Act, 1881 (hereinafter

referred as “NI Act”) and 420 IPC titled as M/S Morgan

Securities& Credits Pvt. Ltd. V Blue Coast Hotels& Resorts

Ltd.& others bearing no15857/2017on allegations that the accused

no. 2 namely Arun Suri with the consent of the accused no 3 to 6

namely Mamta Suri, Basant Kumar Goswami, K. S. Mehta (the

petitioner) and the Sushil Suri on behalf of the accused no.1 known

as Blue Coast Hotels & Resorts Ltd. had approached the

respondent/the complainant for the financial assistance for business

Digitally Signed

By:NIDHI

Signing Date:04.12.2023

11:59:29

Signature Not Verified

Page 3

purposes by way of Inter Corporate Deposit(ICD) facility with a

promise to repay back the amount of the ICD as per the terms

mutually agreed and reduced in writing by way of an Inter Corporate

Deposit Agreement dated 09.09.2002. The respondent/complainant

paid Rs.5,00,00,000/- (Rs. five crores only) under the ICD facility to

the

accused(s)

vide

cheque

bearing

no.

227605

dated

09.09.2002drawn on HDFC Bank, K.G. Marg, New Delhi and

Demand Promissory Note and Inter Corporate Deposit Receipt were

also executed in favour of the respondent no 2/the complainant

besides other documents. The Accused (s) were required to pay

Rs.5,00,00,000/- (Rupees five crores only) after expiry of 180 days

from the date of receipt of ICD, i.e. on 08.03.2003alongwith interest

as agreed.

2.1

The respondent/the complainant has extended the financial

assistance to the accused no. 1 to the tune of Rs.5,00,00,000/-

(Rupees Five Crores Only) according to the usual prevailing

corporate convention and, believing and acting upon promises of the

accused(s) persons. The accused no. 2 is the managing Director and

Authorized Signatory, the accused no.3 to 5 are the Directors, and the

Digitally Signed

By:NIDHI

Signing Date:04.12.2023

11:59:29

Signature Not Verified

Page 4

accused no.6 is the Authorized Signatory of the accused no 1 and are

incharge of day to day affairs and are responsible for the conduct of

the business of the accused No.1 and for all acts and deeds committed

by or on behalf of the accused no. 1.

2.2

The respondent/the complainant also filed / initiated arbitration

proceedings against the accused No. 1, 2 and the accused no.6and

M/s Morepan Laboratories Ltd. joined as parties during the

Arbitration proceedings. During the arbitration proceedings, a

compromise took place between the accused no. 1, 2 &6and M/s

Morepan Laboratories Ltd. and the respondent/the complainant and a

Memorandum of Settlement dated 27.05.2003 was signed and

accordingly the Arbitrator passed a Consent Award on 21.07.2003.

Thereafter the accused no.2 on behalf of the accused no. 1 with the

consent and knowledge of the accused No.3 to 6 have signed and

issued several cheques and most of them were got dishonour. The

accused no.2 on behalf of the accused no.1 with the consent of the

accused no.3 to 6 towards part payment of the outstanding bill had

issued the cheque bearing no 842629