IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.RAMKUMAR FRIDAY, THE 11TH APRIL 2008 / 22ND CHAITHRA 1930 Crl.MC.No. 1608 of 2008() ------------------------- AGAINST THE ORDER DATED 06.02.2008 IN MP.21/2008 IN ST.293/2007 of JUDL. MAGISTRATE OF FIRST CLASS-III, KOCHI .................... PETITIONER: ------------ M.K.DILEEPKUMAR S/O. SHRI.KRISHNAN, MANGATTU HOUSE ARAKKUZHA P.O.,MUVATTUPUZHA. BY ADV. SRI.M.K.SHASHI KUMAR RESPONDENTS: ------------- 1. STATE OF KERALA, REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA ERNAKULAM KOCHI-31 2. M/S. SHRIRAM TRANSPORT FINANCE CO.LTD (FORMERLY SHRIRAM INVESTMENT LTD) 40/786 CHITTOOR ROAD, ERNAKULAM KOCHI REPRESENTED BY ITS ASSISTANT BRANCH MANAGER, MR.SIBI JOHN S/O. JOHN REISIDING AT ANAMTHURUTHIL HOUSE PALLURUTHY,KOCHI. BY ADV. SRI. K.S. SIVAKUMAR, PUBLIC PROSECUTOR THIS CRIMINAL MISC. CASE HAVING COME UP FOR ADMISSION ON 11/04/2008, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: V. RAMKUMAR , J. ========================== Crl.M.C. No.1608 of 2008 ========================== Dated this the 11th day of April, 2008. O R D E R The petitioner, who is the accused in S.T. No. 293 of 2007 on the file of the Judicial First Class Magistrate -III, Kochi which is a prosecution under Section 138 of the Negotiable Instruments Act, challenges Annexure -7 order as per which the petitioner's application filed as M.P. No. 21 of 2008 for stay of the prosecution proceedings pending arbitration proceedings was disallowed. The decision reported in Agri Gold Exims Ltd., v. Sri Lakshmi Knits Wovens & others (2007(3) SCC 686) relied on by the petitioner does not hold that the prosecution under Section 138 of the N.I. Act should be stalled by the Magistrate pending arbitration proceedings. The learned Magistrate was perfectly justified in rejecting the petitioner's prayer for stay of the prosecution proceedings. The contention regarding the competence of the power of attorney holder to give evidence is also not relevant at this stage of the proceedings. I see no grounds to interfere with the order passed by the Magistrate. This Crl.M.C is accordingly dismissed. V. RAMKUMAR, JUDGE. rv