TMI Blog2020 (10) TMI 469X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner had entered into an agreement on 24.04.2018 and he agreed to pay the due amount. In order to pay the part of the above amount, the petitioner issued cheque for a sum of ₹ 15,00,000/-. The said cheque was present for collection and the same was returned dishonour for the reason that Funds insufficient . It was duly informed to the petitioner herein and after his instruction, the cheque was once again presented for collection. Again it was returned dishonour for the reason that Drawer's signature differ . Therefore after issuing statutory notice, respondent initiated the present proceedings for the offences punishable under Section 138 of NI Act as against the petitioner. Though the petitioner filed petition to de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the cheque for collection on 15.09.2018. He further submitted that the petitioner already filed application to declare himself as insolvent and the same also taken on file by the learned Principal District Judge, Srivilliputtur in I.P.No.5 of 2018. In fact the petitioner also issued notice dated 20.06.2018, and categorically informed about the pendency of the insolvency proceedings and called upon the respondent not to deposit the cheques which were obtained under threat and coercion. Therefore, there is no offence made under Section 138 of NI Act as against the petitioner. Further, the petitioner does not have any means and wherewithal and the application to adjudge him as insolvent in I.P.No.5 of 2018, the petitioner cannot be burdened wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d cheque was present for collection and the same was returned dishonour for the reason that Funds insufficient . It was duly informed to the petitioner herein and after his instruction, the cheque was once again presented for collection. Again it was returned dishonour for the reason that Drawer's signature differ . Therefore after issuing statutory notice, respondent initiated the present proceedings for the offences punishable under Section 138 of NI Act as against the petitioner. 6. Though the petitioner filed petition to declare him as insolvent in I.P.No.5 of 2018, it is no way bared for the respondent to proceed with the complaint for the offences under Section 138 of NI Act. Further, the learned counsel appearing for the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in respect of the very same issue in Crl.A.No.1572 of 2019 dated 17.10.2019 in the case of Central Bureau of Invstigation Vs. Arvind Khanna, wherein, it has been held as follows: 19. After perusing the impugned order and on hearing the submissions made by the learned senior counsels on both sides, we are of the view that the impugned order passed by the High Court is not sustainable. In a petition filed under Section 482 of Cr.P.C., the High Court has recorded findings on several disputed facts and allowed the petition. Defence of the accused is to be tested after appreciating the evidence during trial. The very fact that the High Court, in this case, went into the most minute details, on the allegations made by the appellant-C.B.I., a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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