DEEPAK K S, BANGALORE Vs. B YOGESH

JUDGEMENT

(1.) This appeal is filed by the appellant/complainant praying to set aside the Judgment dated 08.10.2010 passed in C.C. No.25938/2006 by the XVIII Addl. Chief Metropolitan Magistrate and XX Addl. Small Causes Judge, Bengaluru City (for brevity, hereinafter referred to as the Trial Court ) acquitting the accused from the offence punishable under Section 138 of the Negotiable Instruments Act, 1881(for brevity, hereinafter referred to as the N.I. Act ) and to convict the respondent in accordance with law.

(2.) The summary of the case of the complainant in the Trial Court is that himself and the accused are business friends and taking advantage of the said acquaintance between them, in January, 2005, the accused who was in deep financial commitments, availed a loan of Rs.10,00,000/- from the complainant. Towards the repayment of the said loan amount, the accused issued two cheques bearing Nos. 015487 and 016804 both dated 07.10.2005 and each being for Rs.5,00,000/- and drawn on Janatha Seva Cooperative Bank Limited, Mahalakshmipuram Branch, Bangalore, to the complainant. When the complainant presented those two cheques for realisation through his banker, the same came to be returned unpaid with the banker's shara insufficiency of funds with the account holder . Thereafter the complainant got issued a legal notice to the accused on 07.11.2005 through Registered Post Acknowledgement Due and under Certificate of Posting . Even after service of the said notice, the complainant failed to meet the demand made in the legal notice by paying the cheque amount which constrained the complainant to institute a case against the accused in the Trial Court for the offence punishable under Section 138 of the N.I. Act.

(3.) Trial Court records were called for and the same are placed before the Court.