NU. HORIZON TECHNOLOGIES REPRESENTED BY ITS PROPRIETOR MR. K.L. AGARWAL NO. 21, AMAR JYOTHI LAYOUT 3RD MAIN ROAD SANJAY NAGAR MAIN ROAD BANGALORE Vs. M/S. ROOPA ADVERTISERS NO. 9, 4TH MAIN RAM MOHAN PURAM BANGALORE - 21 REPRESENTED BY ITS PROPRI

JUDGEMENT

(1.) PETITIONER faced prosecution for an offence punishable under Section 138 of N.I. Act. Considering the record of the case, learned Magistrate found the accused -petitioner guilty of the charged offence. The petitioner -accused was convicted for the offence under Section 138 of N.I. Act and was sentenced to pay fine of Rs. 55,000/ -, in default, to undergo simple imprisonment for six months. Out of the fine amount, when realised, Rs. 50,000/ - was ordered to be paid to the complainant as compensation. Criminal appeal filed there against by the accused having been dismissed, this criminal revision petition has been filed for relief. Matter was argued on more than one occasion. Today, learned counsel on both sides submitted that the parties have entered into a settlement and that they may be permitted to compound the offence.

(2.) SRI . Nagendra Naik, learned Advocate appearing for the petitioner submitted that the petitioner has agreed to pay in all Rs. 45,000/ -. Learned counsel submitted that the petitioner has made certain deposit in the trial Court and would deposit the balance agreed amount before 31.01.2013 i.e., in the trial Court.

(3.) PERUSED the record. The offence under consideration is compoundable. The parties have entered into an amicable settlement. Petitioner has made certain deposit, pursuant to the interim order passed in the appeal and also in this petition. In the circumstances, parties are permitted to compound the offence. Petitioner is granted time to deposit in the trial Court, the balance amount, out of the mutually agreed amount of Rs. 45,000/ -. If the balance agreed amount is not deposited before 31.01.2013, the bail bond and the surety bond shall stand cancelled and the petitioner shall surrender before the trial Court and serve the jail sentence. The amount in deposit and the balance amount, if deposited/realised, be released to the complainant. Petition is disposed of accordingly.