M. JAYARAM Vs. S. BASAVARAJ

JUDGEMENT

(1.) Heard learned counsel for the appellant and learned counsel for the respondent.

(2.) This appeal is preferred by the appellant challenging the judgment rendered by the Court below in C.C.No.3733/2013 dated 09.09.2016 acquitting the accused for the offence punishable under Section 138 of N.I. Act.

(3.) The factual matrix of this appeal is that the accused was known to the complainant for the past 10 years. In the first week of February 2012, the accused approached the complainant and borrowed Rs.9,10,000/- as hand loan and he assured to repay the same within a period of three months. Even after lapse of three months, accused failed to repay the said amount. After repeated demands by the complainant, accused issued two cheques in favour of the complainant one is dated 20.09.2012 for Rs.1,50,000/- and another cheque dated 21.10.2012 for a sum of Rs.7,60,000/- drawn on Canara Bank, Lottegollahalli Branch, Bengaluru. When the complainant presented the aforesaid cheques, the same came to be returned unpaid on account of 'insufficient funds'. After following the requisite procedure under the N.I.Act, the complainant filed the complaint against the accused for the offence punishable under Section 138 of the N.I. Act.