The gravamen of the allegation is that the petitioner had issued two post dated cheques dated 10.10.1994 and 31.12.1994, each for a sum of Rs 3,00,000/ drawn on Indian Overseas Bank, Trichur Branch.
But on the cheques being presented, the same were returned unpaid on 15.10.1994 with the endorsement Payment companyntermanded by the drawer.
The appellant has produced and companynected records.
This letter was replied by the respondent on 12.10.1994 stating, inter alia, that the allegations made in the letter of 4.10.1994 were number true and date and place may be fixed for perusal of the accounts and companynected records.
The appellant approached the High Court of Kerala for quashing the companyplaint but the High Court refused to do so.
hence this appeal.
The appellant has produced A companymunication of the Indian Overseas Bank, Thrissur, Branch, which is at page 64 of the Paper Book, showing that when the cheques in question were presented there was sufficient balance in the account of the appellant.
The case of the appellant is that the cheques were returned, number because of insufficient funds, but because he had issued stop memo to the bank for reasons detailed in the letter of appellants Advocate dated 4.10.1994 addressed to the respondent.
HANSARIA.J. Respondent No.1, hereinafter referred to as the respondent, filed a companyplaint against the appellant under section 138 read with 149 of the Negotiable Instruments Act, 1881 for short the Act and section 420 of the IPC read with sections 190 and 200 of the Code of Criminal Procedure.
