Neutral Citation No. - 2025:AHC:141587 Court No. - 75 Case :- APPLICATION U/S 482 No. - 3168 of 2025 Applicant :- Brijesh Agrawal And Another Opposite Party :- State of U.P. and Another Counsel for Applicant :- Akhilesh Kumar Mishra,Laxmi Devi Counsel for Opposite Party :- G.A.,Kuldeep Singh Chahar Hon'ble Vikas Budhwar,J. 1. Heard Sri Akhilesh Kumar Mishra, learned counsel for the applicants, Sri Kripa Shankar, learned Additional Government Advocate for the State and Sri Kuldeep Singh Chahar, learned counsel for the Opposite Party No. 2. 2. A joint statement has been made by the learned counsel for the parties that they do not propose to file any affidavit and the application be decided on the basis of the documents available on record. With the consent of the parties, the application is being decided as a fresh case. 3. This application under Section 482 Cr.PC. has been filed by the applicants to set-aside the impugned order dated 14.10.2024 passed by the learned Additional Sessions Judge, Court No. 06, Ghaziabad in Criminal Appeal No. 19 of 2020 (Brijesh Agrawal and Others Vs. M/s Devi Metal Technoligies and Others) under Section 138 of N.I. Act, Police Station-Link Road, District Ghaziabad. 4. The case of the applicants is that a complaint stood lodged by the Opposite Party No. 2 against the applicants under Section 138 of the N.I. Act which culminated into an order dated 09.01.2020 passed by the Presiding Officer, Additional Court No. 2, Ghaziabad in Complaint Case No. 720 of 2019 whereby, the applicants have been convicted under Section 138 of the N.I. Act with the simple imprisonment of one year respectively and compensation of the fine to the tune of Rs. 1,50,00,000/- 5. Assailing the conviction order, the applicants preferred a Criminal Appeal No. 19 of 2020 (Brijesh Agrawal and others Vs. M/s. Devi Metal Technologies and others) in which on 07.02.2020, an order came to be passed whereby the applicants have been enlarged on bail. However the conviction, sentence and recovery have been stayed subject to depositing of 20% of the fine. 6. Thereafter an application came to be preferred by Opposite Party No. 2 under Section 148 of the N.I. Act on 21.08.2024/04.09.2024 for the release of 20% of the amount of Rs. 1,50,00,000/- being Rs. 30,00,000/- which was objected by the applicants, however the same came to be allowed on 14.10.2024 by the Court of Additional Sessions Judge, Court No. 6, Ghaziabad. Questioning the said order, the present application has been preferred. 7. Learned counsel for the applicants has submitted that the order dated 14.10.2024 passed by the court below releasing an amount of Rs. Rs. 30,00,000/- in favour of Opposite Party No. 2 cannot sustain for the simple reason that the Opposite Party No. 2 is not in existence as by virtue of the Deed of Reconstruction dated 15.04.2016 and the Supplementary Agreement dated 15.04.2016, the Opposite Party No. 2 entity has been taken over by RCI Industries, thus the said amount could not have been released. He submits that though the applicants has deposited the amount of 20% being Rs. 30,00,000/- but in case the appeal stands allowed in favour of the applicants and the conviction order is set-aside, then the said amount may not be made available to the applicants. 8. Learned Additional Government Advocate as well as learned counsel for the Opposite Party No. 2 submit that once the applicants have deposited 20% of the total amount of Rs. 1,50,00,000/- being Rs. 30,00,000/- pursuant to an order passed under Section 148 of N.I. Act, then in case appeal stands allowed in favour of the applicants then obviously the Opposite Party No. 2 is to make the repayment and in that regard, there happens to be a clear recital and an order for furnishing of the bond/undertaking. 9. I have considered the submissions made across bar and perused the record. 10. Apparently post conviction, an appeal came to be preferred by the applicants wherein the applicants have deposited 20% of the total amount of Rs. 1,50,00,000/- being Rs. 30,00,000/-. The Court of Additional Sessions Judge, Court No. 5, Ghaziabad in its order dated 14.10.2024 has already provided for the safeguard while asking for the undertaking from the Opposite Party No.2 to the effect that in case the appeal stands allowed, then the amount is to be returned to the applicants. Once the position being so, the interests of the applicants stands safeguarded. Accordingly, no further orders are required to be passed. 11. Application stands disposed of. Order Date :- 19.8.2025 A. Mandhani Digitally signed by :- ABHISHEK MANDHANI High Court of Judicature at Allahabad