Nation Current Affairs 09 May 2019 Cheque bounce case: ...

Cheque bounce case: No Madras high court relief to Sarath Kumar, Radhika

DECCAN CHRONICLE.
Published May 9, 2019, 1:54 am IST
Updated May 9, 2019, 1:54 am IST
When the cheques were presented for payment, they were returned.
Madras high court
 Madras high court

Chennai: Declining to quash the criminal proceedings in two cheque bounce cases pending against actors R. Sarathkumar and his wife Radhika Sarath Kumar and two others, the Madras high court has directed the Fast Track Court-III in Saidapet to complete the trial within 6 months.

Justice G.K.Ilanthiraiyan however quashed the criminal proceedings in respect of five other cheque bounce cases against Radhika Sarath Kumar and Listin Stephen, partners of M/s Magic Frames. The judge however dismissed the petition filed by Sarath Kumar to quash the proceedings against him in these five cases. According to Abudukumar, counsel for the complainant M/s Radiance Media P Ltd, the Magic Frames company, in which Sarath Kumar, Radhikla Sarath Kumar and Listin Stephen were partners, borrowed Rs 1.50 crore from Radiance Media, a film financing company, and issued two cheques. Subsequently, Sarath Kumar had obtained a hand loan of Rs 50 lakh from Radiance Media and issued five cheques for Rs 10 lakh each.  When the cheques were presented for payment, they were returned. Hence, Radiance Media filed the present 7 cheque bounce cases, Abudu Kumar added.

 

 Stating that in the third week of January 2018 at the instance of Radiance Media, he took over the entire liability of Magic Frames and agreed to secure the same with three immovable properties belonging to him, Sarath Kumar in his petition contended that the proceeding subsequently filed under section 138 of Negotiable Instruments Act on the basis of the 7 cheques were in clear abuse of process of law and in suppression of the relevant facts. They were filed particularly in suppression of the fact that the loans for which these cheques were issued, stood discharged on January 21, 2016 when the deed of mortgage by conditional sale was executed by him, he added.

 

Justice Illanthiraiyan said admittedly, Sarath Kumar and Listin Stephen were signatory to the cheques issued on behalf of Magic Frames firm. Radhika Sarath Kumar was also a partner of the firm.

All the partners were actively involved in the day to day activities of the firm and were all liable to be prosecuted under section 138 read with 141 and 142 of the Negotiable Instruments Act, the judge added.

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