A Supreme Court bench has recused itself from hearing cash-strapped retailer Subhiksha’s petition seeking a stay on criminal proceedings initiated against it after a cheque issued to Kotak Mahindra Bank was dishonoured. A bench of justices Markandey Katju and Gyan Sudha Mishra opted out of hearing the plea filed by Subhiksha. “List before another bench to be nominated by the Chief Justice of India,” the bench said.
Kotak Mahindra Bank had filed a criminal case against the retailer, its managing director R Subramaniam and two others in 2009.
According to the bank, a cheque issued by Subhiksha worth Rs 35 crore bounced due to lack of funds in the company’s account.
On September 10 last year, the Supreme Court had stayed the orders of the Bombay High Court, which had declined to stay criminal proceeding initiated in the local magistrate’s court on the complaint by Kotak Mahindra Bank.