2022 (1) TMI 1293

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....ny and they are also aware of the dayto-day affairs of the Company. The accused persons, in the usual course of their business, availed various financial credit facilities from the respondent/ Bank including opening of Letter of credit for supply of goods and raw materials from M/s.Sri Balaji Khem Products. The Letter of credit was obtained for a sum of Rs.1,58,00,000/- (Rupees One Crore Fifty Eight Lakhs Only) and Letter of credit for 90 days was issued in favour of the accused on 15.07.2015. In terms of the Letter of credit, the accused was required to pay a total sum of Rs.1,58.00,000/- only, which the accused did not pay within 90 days. Towards, the said due, the accused gave a cheque dated 07.07.2015. The complainant/Bank presented the....

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....arned counsel for the respondent submitted that, in similar case, the defence raised against the petitioner herein/A3 before this Court was dismissed, vide order dated 23.10.2018 in Crl.O.P.No.24740 of 2018. Further, he has submitted that, whether the petitioner/A3 resigned prior to the issuance of cheque or availed loan facility, is a disputed fact and the same cannot be considered by this Court. Therefore, merely on the basis of some papers issued by the Ministry of Corporate Affairs, without any authentication, those documents cannot be relied upon. He further submitted that, in the very alleged resignation letter, the petitioner stated that he is the Executive Chairman of the first accused/Company and he resigned from the first accused/....