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2022 (9) TMI 381 - HC - Indian LawsDishonor of Cheque - insufficient funds - whether cheque was issued for security purpose? - non-impleading the AMD Housing Developer as an accused - vicarious liability u/s 141 of NI Act - HELD THAT:- It has to be noted that the petitioner had not raised the question of law that the prosecution of the petitioner as a partner without implicating the partnership firm is not maintainable, without making the firm as an accused in his affidavit. There is no dispute with regard to the legal principles of the Hon'ble Supreme Court that for maintaining a prosecution under Section 141 of Negotiable Instruments Act, arraigning of a company as an accused is imperative only within the other categories of offenders can be brought in the dragnet on the touchstone of vicarious liability as the same has been stipulated in the provision itself. In the present case, the complainant and the petitioner disputed the fact whether the petitioner borrowed the loan amount for AMD Housing Developer or for petitioner's personal capacity and also, the petitioner disputed the fact that by himself, the disputed cheque was given as a security purpose only and the same was misused by the complainant. Therefore, whether the disputed cheque was given as security or not, whether the petitioner borrowed the loan amount for his personal purpose or for the benefit of AMD Housing Developers are the question of facts, which could have been determined only by the trial Court, after recording evidences of the parties. The criminal proceedings cannot be quashed - Petition dismissed.
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