and the complainant at TEECL Kolkata. It was agreed that the accused company would pay Rs. 1,63,50,000 as full settlement for the contract with Cheema Boilers Ltd. To fulfill this obligation, the accused company issued a draft of Rs. 35,00,000 (no. 480,181) dated September 4, 2012, drawn at Vijaya Bank and a post dated cheque of Rs. 78,50,000 (no. 035882) dated September 30, 2012, at Vijaya Bank. Tejinder Pal Singh Oberoi represented the complainant company at the meeting. The minutes were signed by EMC Chakkraborthy, Accused No. 2 (Managing Director), and Tejinder Pal Singh on September 2, 2012. The complainant company maintains books of account regularly and as per ledger a sum of Rs.2,54,98,361.45 was due and payable by accused No.1. On September 3, 2012, the accused company agreed to settle its outstanding debt of Rs. 2,54,98,361.45 by paying Rs. 1,63,50,000. To fulfill this obligation, they issued a Demand Draft of Rs. 85,00,000 dated September 4, 2012 and a Post dated Cheque of Rs. 78,50,000 dated September 30, 2012. However, when the complainant company presented the postdated cheque on October 3, 2012, Vijaya Bank dishonored it due to 'payment stopped by drawer.' The complainant company received the dishonored cheque vide memo on October 8, 2012. After receiving the dishonored cheque, a legal notice dated October 9, 2012, was sent through Advocate Sh. Arun Kumar to the accused persons via registered post on October 12, 2012. Despite receiving the notice, the accused persons failed to pay the cheque amount. Hence, the present complaint.
