K. MUNIRAJU Vs. B.S. MANJUNATH

JUDGEMENT

(1.) The present petitioner as the accused was tried by the Court of the learned XXI Additional Chief Metropolitan Magistrate, Bangalore, (hereinafter for brevity referred to as "the Trial Court"), in Criminal Case No.7901/2012 for the offence punishable under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter for brevity referred to as "the N.I. Act") and was convicted for the said offence by its judgment of conviction and order on sentence dtd. 2/5/2015.

(2.) The summary of the case of the complainant in the Trial Court is that, himself and the accused are well acquainted with each other as friends. During the month of November-2011, the accused borrowed a sum of Rs.2,50,000.00 from him as a loan, promising to repay the same together with interest at the rate of Rs.2.00% per month. Since the accused did not repay the loan amount within the agreed time and when demanded for its payment by the complainant, the accused issued a cheque bearing No.550334 dtd. 20/12/2011, drawn on Bank of India, Bangalore Main Branch, Bangalore, drawn in his favour, for a sum of Rs.2,50,000.00 towards the repayment of the loan amount. When the said cheque was presented for its realisation by the complainant through his banker, the same came to be returned unpaid with the banker's endorsement 'funds insufficient'. Thereafter, the complainant got issued a statutory notice dtd. 27/1/2012 to the accused, demanding the cheque amount.

(3.) The accused appeared through his counsel and contested the matter.