SHREE CHARAN PVT. LTD. Vs. V.M. ENGINEERING

JUDGEMENT

(1.) This matter is listed for admission today and heard the learned counsel for the petitioner and the learned counsel for the respondents.

(2.) This petition is filed praying this Court to set aside the judgment and order dtd. 31/12/2021 passed by the Court of LIX Additional City Civil and Sessions Judge, Bengaluru in Crl.A. No. 1142/2019 and confirm the judgment and order dtd. 19/3/2019 passed by the XX Additional Small causes Judge and VIII Additional C.M.M. and MACT, Bengaluru in C.C. No. 4253/2018.

(3.) The factual matrix of the case of the complainant/petitioner herein is that the complainant is running chit business. The respondent/accused is one of the subscriber of the chit run by the complainant and subscribed Ticket No. 20 in Chit group No. LB/ST/15 for a chit value of Rs.30,00,000.00 and subscription installment payable at Rs.1,00,000.00 per month for a period of 30 months. Towards the said Ticket No. 20 chit, the accused had paid a sum of Rs.6,58,375.00 including dividend and still there is an outstanding of Rs.23,41,625.00 to the complainant Company. The accused is also liable to pay the damages of sum of Rs.1,40,498.00 along with interest of Rs.7,30,764.00. In total the accused is liable to pay a sum of Rs.32,12,887.00 to the complainant Company. The accused had also subscribed for Ticket No. 30 in Chit group No. 2SB/ST/15 for a chit value of Rs.1,05,00,000.00 and the subscription installment payable at Rs.3,50,000.00 per month for a period of 30 months. Towards the said Ticket No. 30, the accused has paid a sum of 61,74,450/- including dividend and still there is an outstanding of Rs.43,25,550.00 to the complainant Company. The accused is also liable to pay the damages in a sum of Rs.2,59,533.00 along with interest of Rs.6,48,206.00. In total the accused is liable to pay a sum of Rs.52,33,289.00 to the complainant Company. The accused is liable to pay sum of Rs.84,46,176.00 towards outstanding installments amount. After repeated requests and reminders, the accused issued a cheque in favour of the complainant towards the payment of above said outstanding amount and when the same was presented, it was dishonoured with an endorsement "funds insufficient. Hence, the legal notice was issued through RPAD and inspite of it, the accused has not paid the amount and hence the complaint was filed and the Trial Court took the cognizance.