NACIL moves SC for recovery of Rs 7.36 cr from its sales agent

New Delhi: National Aviation Company of India Ltd has moved the Supreme Court against its authorised sales agent which allegedly duped it of around Rs 7.36 crore.
A bench headed by Justice Arijit Pasayat issued notice to chairman Sanjeev Khanna and managing director Jyotika Khanna of Rao Tours & Travels Pvt Ltd, an authorised passenger sales agents.
NACIL, a company formed after merger of Indian Airlines and Air India, has sought recovery of sale proceeds of air tickets amounting to around Rs 7.36 crore from Rao Tours and Travels.
It has challenged the Delhi High Court judgment that quashed the criminal proceedings initiated for cheque bouncing against the top officials of the firm under Section 138/142 of the Negotiable Instruments Act 1881. Besides, it also challenged the High Court verdict that allowed Sanjeev and Jyotika's bail applications.
The appeals filed through counsel RS Suri said the High Court order suffered from infirmity as it completely lost sight of the basic purpose of encouraging the culture of use of cheques and enhancing the credibility of the instrument.
15/02/09 PTI/Economic Times

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Categories: NACIL Feb 2009