2025 (6) TMI 2119

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....extile fabrics and he was thinking of stopping the business, at that time the petitioners herein approached the respondent company/complainant that in case his company continue to have business dealing with them, his company would prosper financially. On believing their words to be true the respondent entered into a business transaction with the first petitioner herein had mutual business dealing with them. As on date, the petitioners owe a sum of Rs. 1,01,10,976/- to the respondent company. Towards, part discharge of the said liability, the cheques for Rs. 17,71,002/- was issued by the petitioner herein in favour the respondent's company, which was dishonoured in respect of which separate legal proceedings have been initiated against t....

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....Court of Bombay in CP No. 215 of 2012 by its order dated 23.03.2016 issued a summons as against the petitioners. Therefore, on the date of the filing the complaint the company was under the control of the official liquidator. Hence, proceedings initiated against the petitioners are not valid under law. Further, he would submit that transactions between the complainant/respondent and the petitioners company is commercial transactions and even the police enquiry disclosed that it purely business transaction and there is no room for cheating. Therefore, the charges levelled against the petitioners are unsustainable. Provided charges levelled against them are business transactions and there is no material evidence filed along with the complaint....

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.... than one crores from the year 2016 - 2018. Fourth accused sent an Email by acknowledging the companies' liabilities. Therefore, by submitting all the facts the learned counsel for the respondent submitted that from the inception itself petitioners approached the respondent with a common intention to cheat him. Thereby all were committed offence under Section 420 of IPC. Hence, he lodged the complaint before the police but it was not taken thereafter the respondent filed the private complaint before the Magistrate Court and thereafter Magistrate taken the case on file. Hence, he prayed to dismiss this petition 5. Considering the submissions on either side, the fact reveals that the without disclosing the liquidation proceedings the p....