- 1 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 IN THE HIGH COURT OF KARNATAKA, KALABURAGI BENCH DATED THIS THE 4TH DAY OF JUNE, 2025 BEFORE THE HON'BLE MR. JUSTICE V SRISHANANDA CRIMINAL PETITION NO. 200865 OF 2025 (482(Cr.PC)/528(BNSS)) BETWEEN: M/S SAKTHI GANESH TEXTILES PRIVATE LIMITED, S F-8, 144 AND 143, SLV NOBLE EMBASSY. NAVA INDIA ROAD, PEELAMEDU, COIMBTORE-641004. TAMIL NADU STATE. REPRESENTED BY ITS DIRECTORS 1. SRI. K. HARIKUMAR S/O SRI. KALAMEGAM, AGED ABOUT 57 YEARS, AT NO.617/3, AYYEPALAYAM, SIRUVALUR POST, GOBI TALUK, ERODE-638054, TAMIL NADU STATE. 2. SRI. PARTHIBAN G S/O. SRI, GOPAL, AGED ABOUT 52 YEARS, AT NO.617/3, AYYEPALAYAM, SIRUVALUR POST, GOBI TALUK, ERODE-638054, TAMIL NADU STATE. …PETITIONERS (BY SMT. RAJESHWARI MALLINATH, ADVOCATE) Digitally signed by RENUKA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 AND: M/S POINEER ENTERPRISES, SHOP NO.72, FIRST FLOOR, SANTHOSH HUB, GANDHI CHOWK, RAICHUR, KARNATAKA STATE. REPRESENTED BY ITS PROPRITRIX SMT. BABITHA SANCHETI W/O AJITH RAJ MOOTHA, AGE: MAJOR, OCC: BUSINESS, R/AT NO.11-4-76, JAIN COLONY. BRESTAWARPET, RAICHUR-584101, KARNATAKA STATE, AND ALSO AT: NO.11-5-63, JAIN COLONY, BRESHTHWARPET, RAICHUR, KARNATAKA STATE- 584 101. REPRESENTED BY HER GPA HOLDER SRI AJITHRAJ MOOTHA, S/O SRI TEJ RAJ MOOTHA, AGED ABOUT 55 YEARS, R/AT NO.11-4-76, JAIN COLONY, BRESTAWARPET, RAICHUR-584101. KARNATAKA STATE. …RESPONDENT (BY SRI SHIVANAND V. PATTANASHETTI, ADVOCATE) THIS CRIMINAL PETITION IS FILED UNDER SECTION 528 OF BNSS 2023, PRAYING TO ALLOW THE PETITION BY QUASHING THE ENTIRE PROCEEDINGS IN CC NO.4267/2024 WHICH IS PENDING ON THE FILE OF LEARNED PRL. CIVIL - 3 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 JUDGE AND JMFC II AT RAICHUR FOR THE OFFENCE PUNISHABLE UNDER SECTION 138 OF N I ACT, AGAINST THE PETITIONERS VIDE ANNEXURE-C. THIS PETITION, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE V SRISHANANDA ORAL ORDER (PER: HON'BLE MR. JUSTICE V SRISHANANDA) Heard Smt. Rajeshwari Mallinath, learned counsel appearing for the petitioners and Sri Shivanand V. Pattanashetti, learned counsel for the respondent. 2. This petition is filed under Section 482 of Cr.P.C. with the following prayer: “WHEREFORE, the petitioners respectfully prays that this Hon’ble Court be pleased to call for records and allow the petition by: a) Pleased to quash the entire proceedings in C C No. 4267/2024 which is pending on the file of learned Prl. Civil Judge and JMFC II at Raichur for the offence - 4 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 punishable under section 138 of N I Act, against the petitioners vide Annexure-C. b) Grant such other relief’s as this Hon’ble Court deems fit in the facts and circumstances of the case in the interest of justice and equity.” 3. In respect of sale of cotton, there was a transaction between complainant and accused. In respect of the said transaction, cheques were issued by the petitioners herein to the respondent bearing No.000454 in a sum of Rs.1,00,00,000/- dated 28.06.2024 and bearing No.000459 in a sum of Rs.2,18,66,758/- dated 11.07.2024, drawn on Standard Chartered Bank, Coimbtore Branch. 4. Both the cheques on presentation returned with an endorsement ‘funds insufficient’ on 15.07.2024 and after issuing legal notice and noticing that there was no non-compliance, a complaint came to be filed by the respondent against the petitioners herein for taking action under Section 138 of the Negotiable Instruments Act. - 5 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 5. The petitioners have appeared before the jurisdictional Magistrate and are contesting the case. In the meantime, the present petition is filed stating that in respect of the same transaction, the respondent has also filed a necessary application before the National Company Law Tribunal (NCLT) and the same is pending before NCLT, wherein there is a seizure of the assets of the petitioners to the extent of Rs.7,00,00,000/- and therefore criminal case needs to be quashed. 6. Per contra, learned counsel Sri Shivanand V. Pattanashetti for the respondent opposes the petition prayer on the ground that the proceedings before the NCLT and the proceedings before the Magistrate can parallelly be continued taking note of the fact that there is an admitted legally recoverable debt. 7. In support of his arguments, learned counsel Shivanand V. Pattanashetti places reliance on the judgment of the Honorable Apex Court reported in (2023) - 6 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 10 SCC 545 in the case of Ajay Kumar Radheyshyam Goenka Vs. Tourism Finance Corporation of India Limited. 8. Having heard the arguments of both sides, this Court perused the material on record meticulously. On such perusal of the material on record, this Court is of the considered opinion that the parallel proceedings is permissible. 9. However, if the petitioners herein pay the amounts covered under the cheques as compensation to the respondent, it is needless to emphasis that the same shall be given due deduction in the pending proceedings before the NCLT. 10. The view of this Court in this regard is fortified by the judgment of the Honorable Apex Court in the case of Ajay Kumar Radheyshyam Goenka referred to supra. - 7 - HC-KAR NC: 2025:KHC-K:2825 CRL.P No. 200865 of 2025 11. Accordingly, no grounds are made out for quashing the pending criminal proceedings. The petition is meritless and needs to be dismissed. 12. Hence, the following: ORDER The petition is dismissed. Sd/- (V SRISHANANDA) JUDGE RSP List No.: 1 Sl No.: 50 CT:PK