“CR”

ORDER

The petitioner herein is the accused in C.C.No.2315/2017 on the file of the Judicial First Class Magistrate (NI Court), Palluruthy. The aforesaid case has arisen from a complaint lodged under Sections 138 and 142 of the Negotiable Instruments Act, 1881 ( the “NI Act” for the sake of brevity ) by the party respondent herein. This petition is filed seeking to quash all further proceedings in the above case, for which purpose, the powers of this Court under Section 482 of the Code of Criminal Procedure have been invoked.

2. Short facts to be noticed for deciding the issues involved are as under:

a. The complainant held shares in the Company by the name Elnocs Health Care Private Ltd. (“the Company” for the sake of brevity). An agreement was entered into between the complainant and the accused, as per which the complainant agreed to transfer 833 shares held by the complainant in favor of the accused for a total consideration of Rs.87,43,812/- within 12 months from the date of the share purchase agreement. In furtherance thereto, the accused is alleged to have issued three post-dated cheques drawn on the HDFC Bank bearing numbers ‘000069’, ‘000070’, and ‘000071’ dated 12.03.201