HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU CRIMINAL PETITION NO.1319 OF 2007 Date: 02.02.2010 Between: P. Lakshminarayana Reddy ……Petitioners And: S. Madhusudhan Reddy and another ……Respondents. HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU CRIMINAL PETITION NO.1319 OF 2007 ORDER: This petition is filed by the 2nd accused under Section 482 Cr.P.C., for quashing proceedings in C.C.No.1392 of 2003 on the file of XVII Metropolitan Magistrate, Hyderabad relating to offence punishable under Section 138 of the Negotiable Instruments Act. Subject matter of this case is cheques issued by Visveswar Finance & Chit Fund (P) Limited which was dishonoured by banker of that company. The petitioner/A-2 as Managing Director of A-1 company issued the cheques in question. It is contended by the petitioner’s counsel that originally one P. Purushotham Reddy was Managing Director of A-1 company and he died on 02.01.2003 and that thereafter the petitioner was elected as Managing Director and Registrar of Companies recorded the same and that the cheques were issued in March, April and May, 2003 immediately after he took over as Managing Director. It is further contended that subsequently A-1 company went into Liquidation in Company Petition No.38 of 2005 as per order dated 15.11.2005 passed by this Court and that the Official Liquidator of this Court has taken over assets of the company in order to meet liabilities of the company. Complaint in this case was filed before the Magistrate on 01.08.2003. Dishonour of cheques took place on 04.06.2003, 29.05.2003 and 05.06.2003. Thus, offence complained in this case took place long prior to liquidation proceedings. Liquidation proceedings cannot absolve the petitioner from criminal liability for offence committed two years prior to the order of liquidation. So I do not find any valid reasons in law to grant relief to the petitioner in this case. Hence, the criminal petition is dismissed. ___________________________________ SAMUDRALA GOVINDARAJULU,J Date:02.02.2010. Gk. HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU CRIMINAL PETITION NO.1319 OF 2007 Date: 02.02.2010 Gk.