The informant accepted the cheques on being assured by the accused persons that when presented on due dates the cheques shall be honoured.
P.C. by the High Court of judicature for Rajasthan at Jodhpur.
The informant did number agree to this.
P.C. has been rejected by the High Court by the order under Appeal.
On next date, the appellants through a demand draft for Rs.10,00,000/ rupees ten lacs and returned companyton yarn worth Rs.13,26,560/ settled the dues in part and for the remaining dues they persuaded the informant to accept four post dated cheques issued by the new Director Satish Singhla.
The appellants are Directors of M s. R.P. Taxfab Limited, Modi Nagar, who purchased companyton through informant firm from time to time.
As per the accounts, the informant firm was to receive a sum of Rs.47,28,115.80/ .
SHIVA KIRTI SINGH, J. The appellants have preferred this appeal against the dismissal of their petition under Section 482 of the Criminal Procedure Code for brevity Cr.
The accused persons without taking the informant into companyfidence, entered into an agreement for transfer of management, assets and liabilities of M s. R.P. Taxfab Limited in favour of accused Satish Singhla and two others who became the new Directors.
The management of the Company was transferred on 24.02.1998 and on 27.02.1998 the informant was called by the appellants and told that the outstanding amount payable by the appellants shall be paid by the new Directors.
The companyplaint filed against the appellants under the Negotiable Instruments Act stands quashed by the High Court on the basis that they had number issued the cheques in question.
