2020 (10) TMI 530

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....on credit basis and in order to pay the dues, the petitioner and other accused presented four cheques for a sum of Rs. 3,25,687/- and all the cheques when presented for collection were returned as "Funds Insufficient" . After issuing statutory notice, the respondents initiated proceedings for the offence punishable under Section 138 of the Negotiable Instruments Act. While pending the complaint, the petitioner settled the entire due amount, by issuing seven cheques as follows: S.No. Date Ban Name Invoice No. Amount 1 20.04.2018 HDFC 097 Rs. 40,000/- 2 30.06.2018 SBI 93046 Rs. 40,000/- 3 02.08.2018 IOB 306421 Rs. 14,733/- 4 17.08.2018 IOB 306422 Rs. 48,257/- 5 05.09.2018 IOB 306423 Rs. 50,000/- 6 15.10.2018 I....

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....ounts paid by the petitioner and therefore, he sought for dismissal of the present petition. 4. Heard M.R. Ramamoorthy, the learned counsel appearing for the petitioner and Mr.S. Sairaman the learned counsel appearing for the respondent. 5. On perusal of records it is seen the respondent is the complainant who lodged a complaint for the offence punishable under Section 138 of Negotiable Instrument Act as against the petitioner and others. The petitioner herein arrayed as A3 who is representing the first accused company, as Managing Director. On purchase of the Electrical goods, the petitioner and others issued 4 cheques to the tune of Rs. 3,25,687/- to the respondent. All the cheques were returned dishonoured, and the respondent proceeded....

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.... Section 482 Cr.P.C. proceedings. 13. In view of the foregoing discussion, we allow the appeal, set aside the impugned order and restore the aforementioned complaint case to its original file for being proceeded with on merits in accordance with law. 7. Recently, the Hon'ble Supreme Court of India dealing in respect of the very same issue in Crl.A.No.1572 of 2019 dated 17.10.2019 in the case of Central Bureau of Invstigation Vs. Arvind Khanna, wherein, it has been held as follows: "19. After perusing the impugned order and on hearing the submissions made by the learned senior counsels on both sides, we are of the view that the impugned order passed by the High Court is not sustainable. In a petition filed under Section 482 of Cr.P.....