The petitioner is the sole accused and the 2nd respondent is the complainant. As per the allegations made in the complaint, the 2nd respondent and his brother Mamidipalli Kasinath, Sunkara Vidya Sagar and Pyda Surya Nanda Krishna Divya Deep jointly started a cable network business in the name and style of M/s Sree Devi Enterprises, Kakinada under partnership deed dated 27.10.2009, wherein the said partners invested amount and that the petitioner/accused is the Managing Partner, the 2nd respondent is the working partner, who run the business for considerable time. As there were business disputes, they settled the disputes by negotiations and that the 2nd respondent and three other partners retired from the said partnership business and one Percherla Venkata Durga Prasad joined as new partner by document dated 25.09.2015. The cheque bearing No.274635, dated 20.12.2015 for Rs.12,50,000/- was issued by M/s Sree Devi Enterprises duly signed by the authorised signatory and on presentation for collection, it was dishonoured. After following necessary procedure under proviso (b) of Section 138 of the Act, the 2nd respondent filed complaint.
