TMI Blog2016 (3) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... c only) and the same shall be paid by the respondents to the appellant in regular monthly instalments of ₹ 15,00,000/- (Rupees fifteen lac). We accordingly direct that the respondents shall pay the first instalment of ₹ 15 lac by first week of April 2016. The remaining 11 instalments of ₹ 15 lac each shall be paid regularly by the first week of each succeeding month. On admission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kirti Singh, J. 1. Leave granted. 2. In course of its business of supplying solar cells and laminates, the appellant-company made supplies to the respondent no.1. Respondent nos.2 to 6 are the Chief Executive Officer; General Manager (Finance); Ex-Chief Executive Officer; Chairman; and the Managing Director respectively of respondent no.1. According to appellant s case, against larger outs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 3,21,53,903/-. On 19.12.2008, respondent no.1 paid an amount of ₹ 20 lacs towards its debt liability and in reply to the notice it denied the balance liability. It also adopted a further defence that the cheque was given for a larger amount by way of security and was not for any payable debt. The criminal complaint filed by the appellant under Sections 138/141/142 of the Negotiable Instr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts or settlements made after the issuance of a cheque, a complainant can disclose the true state of affairs and issue a demand for a lesser amount and whether in such circumstances the criminal prosecution for dishonour of a cheque for higher amount is legally sustainable or not, did arise in this case. However, on account of subsequent talks between the parties, an amicable settlement has been ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in accordance with the aforesaid arrangement, the complaint case shall stand quashed if the entire amount of ₹ 1,80,00,000/- is paid by the respondents to the appellant by the first week of March 2017. Till then the complaint case shall remain in abeyance. It is made clear that if the entire payment is not made within the time indicated above then this order shall stand recalled and the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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