9911796707
TMI Blog2015 (9) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... owards developing a college viz., "Sri Krishna Engineering College". Towards repayment of the same, petitioner issued three cheques bearing Nos.214014, 214015 and 701617 dated 30.06.2002, 31.07.2002 and 02.08.2002 respectively drawn on Indian Overseas Bank, Kilpauk, Chennai. Respondent presented the cheques for payment in Lakshmi Vilas Bank, Panruti, on different dates but the same were returned unpaid owing to "insufficient funds". Respondent/complainant caused statutory notice on 12.09.2002 and petitioner/accused having received the same, failed to effect repayment. Hence, in keeping with the provisions of Section 138 of the Negotiable Instruments Act, respondent/ complainant preferred complaint. 3. Before trial Court, two witnesses were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s' on 07.08.2002. Again, respondent presented the same cheque and an other cheque bearing No.701617 on 31.08.2002 and the same were returned for the same reason on 05.09.2002. Likewise, the cheque bearing No.214015 was also returned. Thereafter, presentation of the cheque, return thereof, issuance of statutory notice and preference of complaint in keeping with Section 138 of the Negotiable Instruments Act are informed.' 7. Two of the cheques are drawn on the account of the College and one on the account of the Trust. Only the signatory of the cheque/Chairman of the College has been arrayed as an accused. When admittedly, borrowings were effected towards development of the College constituted under the Trust, the liability therein ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... land. An example may be found in the Income Tax Act, 1961, describing the word 'person' to include not only company, firm, association of persons, etc. but also juridical persons. The earlier understanding that there can be no vicarious liability for offences except where statutes specifically provide therefor has been watered down with the application of the 'alter ego' principle also to offences under the Indian Penal Code (See Iridium India Ltd., v. Motorola Inc., ((2011) 1 SCC 74)). Is it necessary to see offences under Section 138 of the Negotiable Instruments Act committed by persons other than individuals only through the prism of Section 141 of the Negotiable Instruments Act? Towards serving the social objective soug ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
