That Revision Application under Section 482, Criminal Procedure Code was rejected by High Court by its judgment and order dated 15th June, 1998.
58,25,980/ drawn on Canara Bank, Broadway Branch, Madras, in favour of the Respondent Company.
Against that Order, the present appeal is filed by special leave in which this Court issued numberice on 26th March, 1999 for final disposal.
Appellants have also challenged before the High Court the order dated 10.12.1997 passed by the Metropolitan Magistrate rejecting their application under Section 258, Criminal Procedure Code for dropping the proceedings.
In that application before the Metropolitan Magistrate, appellants have stated that before closing the account on behalf of appellant No.
It was alleged by the companyplainant that in discharge of its existing liability, the appellant Company had given five cheques dated 1st January, 1997 for various amounts totalling to Rs.
Those cheques were duly tendered to the bankers, Punjab National Bank, Calcutta for encashment, but were returned by the banker of the accused persons, that is, Canara Bank, Madras with the remark account closed.
C 494 of 1997 pending on the file of the Metropolitan Magistrate, Calcutta, initiated by Magma Leasing Limited, Respondent Company under Section 138 of the Negotiable Instruments Act, 1881 hereinafter referred to as the Act .
1, a letter dated 3rd August 1996 was sent by the second accused to the Chief Manager, Canara Bank, Madras informing them to close their group companypanys accounts in case, any of the cheque by mistake companyes to the Canara Bank, Madras, then the same be sent back with the numbere account closed payment stopped.
1 and its directors approached the High Court for quashing the proceedings in Case No.
Shah, J. Leave granted.
NEPC Micon Limited, Appellant No.
