NAVARATHNA FINANCE AND LEASING Vs. MOHAMMED TAJAMMUL

JUDGEMENT

(1.) The appellant - complainant has challenged the order of acquittal passed by the Trial Court acquitting the accused - respondent for the offence punishable under Sec. 138 of N.I. Act.

(2.) Heard the learned counsel for appellant and the learned counsel for respondent and perused the material on record.

(3.) It is the case of complainant that on 17/6/2013 complainant sanctioned a loan of Rs.1,50,000.00 to the accused for the purpose construction of a school building. At the time of transaction of loan, the accused agreed to the terms and conditions and issued a cheque bearing No.277699 duly signed by him. Since, accused did not repay the loan amount, the complainant in the last week of October requested him to pay the amount within fifteen days and waited for the response. Since, the accused did not make the payment, he presented the cheque for encashment to his banker, but it was dishonored on 14/11/2013 for insufficient funds in the account of the accused. Thereafter, a legal notice was issued and in spite of receipt of the same, the accused did not reply to the said legal notice and also did not pay the amount mentioned in the cheque and therefore, committed an offence punishable under Sec. 138 of N.I. Act.