ORDER

This petition is filed to quash the private complaint initiated under Section 138 of the Negotiable Instruments Act, 1881, pending on the file of the Metropolitan Magistrate, Fast Track Court No.1, Allikulam, Chennai.

2. The prime contention of the petitioner herein that the subject cheque was not issued to discharge any enforceable debt, but have been misused by the complainant, who already received part consideration by cash of Rs.4 crores and another sum of Rs.10 crores by transferring immovable property worth more than Rs.10 crores. Thus, the entire liability has been discharged. The cheques issued as security been abused by initiating prosecution. Since the Court, on perusing the records, found that there is prima facie material to hold that the complaint was barred by limitation and the blank cheque issued for security has been misused, had granted interim stay on 01.12.2023 and ordered notice to the complainant.

3. The petition to vacate the stay filed by the complainant. Hence, the quash petition and the vacate stay petition have been taken up together.

4. After hearing the learned counsel on either side, this Court finds that the point raised by this petitioner regarding