2 is the M.D. and others are Chairman and partners.
In the companyplaint petition, it was averred The companyplainant submits that the accused persons have failed to clear the liability.
Two companyplaint petitions were filed by the Respondent herein before the Addl.
Towards payment of the said loan, the accused had issued two cheques on 23.6.2001 and 30.6.2001 for a sum of Rs.
The accused company towards repayment of the loan, issued a cheque in favour of the companyplainant.
In the said companyplaint petitions, it was categorically stated that the companypany which had been dealing with imparting of companyputer education in rural areas represented by its Managing Director, Chairman,Vice Chairman and other Directors borrowed a sum of Rs.
1,24,406/ each were issued in favour of the Respondent allegedly on behalf of a companypany known as Karnataka News Net Bangalore Ltd. The Appellants herein were number directors of the said companypany at the material time.
1,24,406/ on the account maintained by the companypany.
In support of the said companyplaint petition, one Ravidraradya, son of the companyplainant filed a sworn affidavit stating The accused No.
Appellants herein filed an application under Section 482 of the Code of Criminal Procedure praying for quashing of the processes issued against them in the said proceedings.
2,25,000/ from the Respondent on an interest of 24 per annum.
6 and 8.
Two cheques dated 23.6.2001 and 30.6.2001 for a sum of Rs.
951 OF 2006 Arising out of SLP Crl.
6134 6135 of 2005 WITH CRIMINAL APPEAL NO.
1,24,406/ each which upon being presented were dishonoured as the companypany did number have sufficient fund.
Chief Metropolitan Magistrate, Bangalore wherein Appellants were described as Accused Nos.
Arising out of SLP Crl.
6252 of 2005 B. SINHA, J Leave granted in SLPs.
The accused being Company and all the directors are responsible for the clearance of liability under Section 141 of the N.I. Act and the acts and deeds of the accused persons is punishable under Section 138 of N.I. Act.
On presentation of the said cheque to the Bank for companylection, the same was returned on 30.6.2001 as insufficient funds.
Notice dated 12.7.2001 was issued through Advocate to the accused was served on 13.7.2001.
The M.D. signed and issued the cheque dated 23.6.2001 for Rs.
