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IN THE HIGH COURT OF JUDICATURE AT MADRAS
G.K.ILANTHIRAIYAN
S.Ramamoorthy – Appellant
Versus
T.Jayaraman – Respondent
| Table of Content |
|---|
| 1. overview of the petition to quash section 138 ni act proceedings. (Para 1 , 2) |
| 2. petitioner's argument regarding the non-existence of a legally enforceable debt. (Para 3) |
| 3. respondent's argument regarding the validity of the poa and power to amend. (Para 4) |
| 4. court's analysis on the misuse of security cheques and set-aside arbitration awards. (Para 5 , 6 , 7 , 8) |
| 5. final order quashing the criminal proceedings. (Para 9) |
ORDER :
G.K.ILANTHIRAIYAN, J.
This criminal original petition has been filed praying to quash the proceedings in STC.No.7860 of 2022 on the file of the Court of the learned Metropolitan Magistrate, Fast Track Court-III, At Saidapet, Chennai for the offences punishable under Sections 138 and 142 of the Negotiable Instruments Act, 1881.
2. The petitioner is the accused in the complaint lodged by the respondent for the offence punishable under Section 138 of NI Act alleging that the accused, a builder by profession, was indebted to the complainant to the extent of Rs.9,27,72,333/- together with interest at the rate of 18% per annum and the principal amount of Rs.5,54,00,000/- from 04.05.2018 pursuant to arbitration award dated 22.10.2018. The award came
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