TaxTMI 
TaxTMI 
2020 (12) TMI 998
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....gainst the petitioner. 2. The learned counsel for the petitioner would submit that the alleged cheques were presented for collection on 03.01.2019, and the same were returned dishonored on 05.01.2019, for the reason "Insufficient Funds". Even then, the respondent did not cause any statutory notice. Further without any instructions from the petitioner again the same were presented for collection and returned for the reason that "Code-5:Kindly contact Drawer/Drawee Bank" by the return memo dated 25.02.2019. As per the Reserve Bank of India guidelines, it is very clear that Non-CTS cheques will not be cleared from 01.01.2019 and as such the alleged cheques were returned by the banker for the above said reason. The alleged cheques were issue....
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.... she repeatedly requested the respondent's father to return the said cheques. But the respondent's father informed that the cheques were misplaced and having utmost good faith the petitioner did not insist the same. Therefore, the alleged cheques were never issued by the petitioner for any legally enforcible debt. On receipt of the reply notice, the respondent did not reply by any rejoinder. In support of his contention, he relied upon the order of this Court dated 24.07.2019 passed in Crl.O.P.No.10406 of 2019 in the case of Sathiyamurthi Vs. Kesava Narayanan and sought for quashment of the proceedings. 3. Per contra, the learned counsel appearing for the respondent would submit that the petitioner borrowed a sum of Rs. 3 lakhs f....
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.... learned counsel for the respondent and also perused the materials available on record. 5. The petitioner is an accused on the complaint lodged by the respondent herein for the offences punishable under Sections 138 and 142 of NI Act. According to the respondent, the petitioner borrowed a sum of Rs. 3 lakhs and towards repayment of the same, the petitioner issued two cheques for a sum of Rs. 1.5 lakhs each. Both the cheques were presented for collection and initially both the cheques were returned for the reason "Insufficient Funds". Again on the instruction given by the petitioner, the cheques were presented for collection and again and it was dishonored for the reason that "Code-5:Kindly contact Drawer/Drawee Bank". After issuing statu....
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....delines from 01.01.2019 onwards. It is also evident from the letter issued by the petitioner's banker dated 21.02.2020, stating that the cheques were issued to the petitioner herein on 06.06.2008. Now, after a period of 11 years the cheques were presented for collection and both the cheques were returned dishonored and directed the respondent to contact Drawer/Drawee Bank. 8. In this regard the learned counsel appearing for the petitioner relied upon the order of this Court in Crl.O.P.No.10406 of 2019 dated 24.07.2019 in the case of Sathiyamurthi Vs. Kesava Narayanan and relevant paragraphs are extracted hereunder:- "5. The only ground that has been raised by the learned counsel for the petitioner is that, the cheque has bee....