MAHENDRA KUMAR JAIN vs M/S. SHIVAAN EXPORTS & IMPORTS

Judgment text excerpt

IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on:24.02.2025 + CRL.M.C. 6104/2019 & CRL.M.A. 41453/2019 MAHENDRA KUMAR JAIN ..... Petitioner versus M/S. SHIVAAN EXPORTS & IMPORTS ..... Respondent + CRL.M.C. 6177/2019 & CRL.M.A. 41704/2019 MONICA JAIN ..... Petitioner versus M/S. SHIVAM EXPORTS & IMPORTS ..... Respondent Advocates who appeared in these case: For the Petitioner(s) : Mr. Neelambar Jha, Adv. For the Respondent(s) : Ms. Rubi Bedi, Adv. through V.C. CORAM HON’BLE MR JUSTICE AMIT MAHAJAN JUDGMENT 1. The present petitions are filed challenging the proceedings in Complaint Case No. 5312/2018 filed by the respondent under Section Signature Not Verified Signed By:HARMINDER KAUR CRL.M.C. 6104/2019 & CRL.M.C. 6177/2019 Page 1 of 13 Signing Date:03.03.2025 13:26:01 138 of the Negotiable Instruments Act, 1881 (‘NI Act’). 2. The complaint was filed alleging that the petitioners are the Directors and are managing the day-to-day affairs of the accused company, namely– M/s Jain MFG (India) Pvt. Ltd. It has been alleged in the complaint that a business transaction took place between the accused company and the complainant company, namely – M/s Shivaan Exports & Imports, in or around May, 2018, for the sale of import-export licenses whereby, it was agreed that 50% payment would be made by the accused company immediately on the date of invoice being issued by the complainant, and the balance 50% would be made the next day. Consequently, the complainant sold various licenses to the accused company between the period 17.05.2018 to 16.08.2018. 3. The complainant alleged that though the accused company initially made regular payments towards the invoices raised however, subsequently stopped making the payments. It is further the case of the complainant that the acc