TaxTMI 
TaxTMI 
2024 (3) TMI 905
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....482 Cr.P.C. on behalf of the Petitioner seeking setting aside of the impugned order dated 28.02.2024 passed by learned Metropolitan Magistrate, Patiala House Courts, New Delhi in CC No. 7722/2020 titled 'Girdhar Impex Limited v. A&A Automobiles Private Limited'. Petitioner Company along with its Authorized Signatory and two Directors were the Accused and Respondent No. 2 was the Complainant before the Trial Court and parties are hereinafter referred to by their litigating status before this Court. 4. Issue notice. 5. Learned APP accepts notice on behalf of the State. 6. Mr. J.H. Jafri, learned counsel accepts notice on behalf of Respondent No. 2/Complainant. 7. Facts to the extent relevant are that Petitioner is a private limited compan....
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....Instruments Act, 1881 ('NI Act') on dishonour of the four cheques. Evidence was led by both the parties and the matter was fixed for final arguments. According to the Petitioner, at this stage, it was realized that bank witnesses were dropped by the Respondent No. 2 after the Statement of Accused persons were recorded under Section 294 Cr.P.C. In order to prove its case that the bank account of the Company has sufficient funds, Petitioner filed an application under Section 311 Cr.P.C. read with Section 91 Cr.P.C. seeking leave of the Court to summon bank officials along with record pertaining to the concerned bank account for the financial years 2019-2020 and 2020-2021. The application was dismissed by the learned MM vide order dated 28.02.....
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....onour of the cheques in question was 'payment stopped' by the drawer and that it is not the case of Respondent No. 2 that the cheques were dishonoured on account of 'insufficiency of funds' or on account of 'exceeding arrangement' and therefore, the application under Section 311 Cr.P.C. was misconceived and only a delay tactic to prolong the trial. Learned counsel further submits that to cut short the controversy and in the interest of expeditious trial, he reiterates, on instructions, that the cheques in question were not dishonoured on account of 'insufficiency of funds' or on account of 'exceeding arrangement' and that Petitioner had sufficient funds in the account in question. 12. I have heard learned Senior Counsel for the Petitioner,....