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Judgment
The petitioner challenges his involvement as an accused in criminal case bearing No. 87/S/1996 pending before the Metropolitan magistrate, 4th Court Girgaon, Bombay, wherein he is facing a prosecution for committing an offence under provisions of Section 138 of Negotiable Instruments Act.
The only point which has been urged is that the cheques in question were blank and they were kept as such with respondent No. 1 as a matter of security for continuous supply of kerosene to the petitioner. The cheques are of huge amount. When a query was made, Shri More was unable to show any agreement between petitioner and respondent No. 1 by which the petitioner was to keep blank cheques with respondent No. 1 as a security for continuous supply of kerosene to him. No agreement happens to be in existence between petitioner and respondent No. 1 for supply of kerosene to him.
In a commercial world nobody would normally keep blank cheques of huge amount only for security for continuous supply of a commodity from vendor. It is well known that the prices of commercial commodities change everyday and frequently. The money has importance in commercial world so far as capital is concerned. No prudent trader would allow his money to lay stagnant without either fetching profit or interest to him. Therefore, the contentions raised by the petitioner are not sufficient enough to allow his petition for quashing the said prosecution. The defence which has been brought forth by the petitioner happens to be one which needs to be considered by the trial Court during the trial in addition to other issues. Thus, petition stands dismissed.
Parties concerned to act upon a simple copy of this order, duly authenticated by the Court Stenographer/Sheristedar of this Court.