SUNAV STEEL PRIVATE LIMITED & ORS. vs STATE OF NCT OF DELHI THROUGH STANDING COUNSEL & ANR.

Judgment text excerpt

IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 01.04.2025 + CRL.M.C. 3896/2022 & CRL.M.A. 16235/2022 SUNAV STEEL PRIVATE LIMITED & ORS. ..... Petitioner versus STATE OF NCT OF DELHI THROUGH STANDING COUNSEL & ANR. ..... Respondent Advocates who appeared in this case: For the Applicant : Mr. Pramod Kr. Dubey, Sr. Advocate with Mr. Rinku Garg, Mr. Kunal Narang, Mr. Manik Bhalla, Mr. Prashant, Mr. Piyush Joshi, Ms. Pinky Dubey, Mr. Jitendra Kumar, Mr. Kaustubh Chouhan, Mr. Prince Kumar & Mr. Ayush Sachan, Advocates. For the Respondent : Mr. Manoj Pant, APP for the State. Mr. Amol Sharma, Adv. for R2 CORAM HON’BLE MR JUSTICE AMIT MAHAJAN JUDGMENT 1. The present petition has been filed seeking quashing of Complaint Case No. 14726/2017 pending before the learned Metropolitan Magistrate (‘MM’), Central District, Tis Hazari Courts, Delhi, for offence under Section 138 read with Section 142 of the Negotiable Instruments Act, 1881 (‘NI Act’). Signature Not Verified Signed By:HARMINDER KAUR CRL.M.C. 3896/2022 Page 1 of 18 Signing Date:08.04.2025 15:09:05 2. The petitioners further seek quashing of the summoning order dated 02.07.2018 (hereafter ‘the impugned order’) passed in the said complaint. Brief facts: 3. The petitioner company, Sunav Steel Private Limited & Ors., is engaged in the business of sale, purchase, export, import, and trade of iron and steel. The petitioner company, through its directors – Petitioner Nos. 2 and 3 had initially availed credit facilities from Yes Bank, with a sanctioned limit of ₹7.5 crore. 4. By way of sanction letter dated 20.06.2013, Respondent No.2/HDFC Bank Ltd. agreed to take over the loan account from Yes Bank on more favourable terms and sanctioned an enhanced credit facility of ₹10 crore to the petitioner company to meet i