TaxTMI 
TaxTMI 
2024 (8) TMI 389
X X X X Extracts X X X X
X X X X Extracts X X X X
....t has filed a Criminal Complaint under Section 138 of the NI Act, against the petitioner/accused. The allegations in the complaint are emanating from an Agreement to Sell dated 23.11.2018, executed between the complainant and one Smt. M.K. Sindhu @ Sindhu Sriniwas w/o Araya Sriniwas r/o No. 14/4, Judicial Layout, Adjacent Bettegowda Layout, Talaghattapura, kanakapura, Main Road, Bengaluru-560109. Smt. M.K. Sindhu had approached the complainant and conveyed her interest to purchase the agricultural land bearing New Survey No. 108/1 admeasuring 5 acres situated at Bada Manavar the Kaval Village, Kengeri Hobli, Bengaluru, South Taluk, Bengaluru, of which complainant was an absolute owner and in possession thereof. The total sale consideration agreed was Rs. 7.75 Crores. 5. On the date of the Agreement, Smt. Sindhu paid a sum of Rs.3 Crores to the complainant and the remaining sale consideration of Rs. 4.75 Crores, was agreed to be paid within a period of six months from the date of execution of the Agreement to Sell. However, due to shortage of financial resources, Smt. Sindhu was unable to arrange the balance sale consideration. 6. Accordingly, she requested for an extension of tim....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... on presentation, shall be honoured. Believing the assurances extended by the petitioner and the buyer No. 1, the possession of the said lands along with the original documents dated 08.07.2005, were handed over by the complainant to the petitioner and his accomplice. 11. The cheques on presentation on 12.05.2023 to Federal Bank, Hauz Khas Branch, Delhi, were returned unpaid with the remark 'Funds Insufficient', vide Return Memos dated 12.05.2023. 12. A Legal Notice dated 10.06.2023, was served upon the plaintiff, to which the petitioner gave a Reply dated 26.06.2023 wherein he asserted that these cheques given to the complainant, were infact, security cheques and also indicated about the alleged Sale Deed dated 12.05.2022, for a sale consideration of Rs. 3.60 Crores being executed. 13. The cognizance on the complaint under Section 138 of N.I Act filed by the respondent, was taken by the learned trial court/M.M. by its Order dated 06.09.2023 and the petitioner/accused was summoned. 14. The petitioner on being served with the summons, appeared before the trial court on 21.11.2023. Notice under Section 251 of the Code of Criminal Procedure (hereinafter referred as 'Cr.PC, 1973') ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....been specified in the complaint that the petitioner and Mr. Ramalingu, had agreed to purchase 3 Acres and 2 Acres respectively. It also does not mention about the execution of the Sale Deed in favour of the petitioner. The Notice as well as the Agreement to Sell noted about the execution of the Sale Deed, by the complainant in favour of the petitioner. Further, the Agreement to Sell does not mention about the realisation of alleged balance sale consideration of Rs. 1.75 Crores. 18. It is, therefore, claimed that both Agreement to Sell as well as the complaint, are absolutely silent about the quantum of consideration, on which the petitioner had agreed to purchase the parcel of 3 Acres of land. 19. It is asserted that even if all the averments made against the petitioner, though not admitted, are accepted that there was an amount due to be paid to the complainant by him, in the facts and circumstances of the present case, there is no liability on the part of the petitioner in view of Paragraph 3 of the Sale Deed, which records that the complainant/vender and confirming party, are acquitted and discharge of their liabilities to make any further payment. 20. The petitioner has furt....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ed counsel for the petitioner has vehemently contended that only one document i.e. the Agreement to Sell was executed on 12.05.2022 and no Sale Deed whatsoever got executed. 25. It is further contended that the alleged Agreement to Sell relied upon and filed on record by the petitioner, is not the same which has been filed by the complainant, before the learned Trial Court. The details about the alleged Sale Deeds in the Agreement to Sell, have been filled in subsequently. There were blanks in regard to the details of the alleged Sale Deeds at the time when the signatures were taken of the complainant. 26. It is further contended that there is an inherent contradiction in the submissions of the petitioner for when the Agreement to Sell was admittedly executed on 12.05.2022, there was no question of execution of the Sale Deed on the same day. It clearly reflects that the Sale Deed has been manipulated subsequently. Though, there is a mention of a Sale Deed in the Reply, but it is ambiguous and there is no clarity of the Sale Deed having been executed on 12.05.2022. In fact, if there was a Sale Deed executed as mentioned in Agreement to Sell, then there would not have been further ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... under S.251 N.I. Act read as under: "The cheques in question bears my signatures. The cheques were filled by me. I also received the legal notice. The response dated 26.06.2023 Ex.CW1/7 was issued on my behalf. The cheques were given as security to complainant's son in law. Ido not know his name. The complainant or the middle man did not show me the property papers. I have paid the entire consideration amount to the complainant. They have not furnished the sale deed which records payment made by me. The complainant did not turn up for signing the property papers despite my repeated calls. " 35. It is difficult to comprehend why a security cheque would be given for the balance sale consideration. Pertinently, these cheques were post-dated and if according to the petitioner, entire sale consideration should be paid and Sale Deed executed, there was no reason why he did not serve any Notice or stop the payment of these three cheques. 36. The petitioner in support of his contentions has placed on record an Agreement to Sell, which has the details of the Sale Deeds and also has placed on record a Sale Deed dated 12.05.2022. The perusal of these documents would show that while an ....