9911796707
TMI Blog1999 (9) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the company, which is represented by the petitioner herein, had agreed to allot some of its shares by private placement out of the promoters quota in favour of the complainant and received certain amounts. Later, the accused failed to allot the said shares and under a mutual agreement he agreed to repay the amounts received towards the price of shares. Accordingly, towards repayment of the said amount, a cheque for the requisite amount in each case was given by the company, which is said to be represented by the accused, to the complainant. The cheques in question were presented for realisation and they were returned on the ground of insufficiency of funds to the credit of the company, which the accused represents. A notice under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity of this reply is not disputed by learned counsel for the petitioner except stating that it was sent by the company and not by the petitioner-accused in his personal capacity. Even this document mentions that the company, on whose behalf the reply was sent is represented by the petitioner-accused as its Managing Director. The contention of learned counsel for respondent No. 2 is that when an accused happens to be the Managing Director of the company that in itself implies that he was in charge of and was responsible to the company. The mere omission to specifically state so in the complaint and failure to reproduce the words occurring in section 141 would not vitiate it and render it liable to be quashed on the ground of non-compliance w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can apply to a Managing Director of the company. Normally, by definition, a Managing Director is supposed to be in charge of managing the company and would obviously be responsible to the company. 8. As seen above, in this case, not only the complaint describes the accused as the Managing Director of the company, but also the agreement, which is the basis for the liability for payment of money on the part of the accused, describes him as Managing Director and even the reply notice sent by the company, of which the accused is the Managing Director shows that he has been the Managing Director of the company. Considering these circumstances, the mere absence of an averment in the complaint that the petitioner-accused was in charge of and w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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