P.C. MANJUNATH Vs. MAHALAKSHMI

JUDGEMENT

(1.) This revision petition under Sec. 397 read with Sec. 401 of Cr.P.C., is filed by the accused in C.C.No.19887/2009 on the file of XIII Additional Chief Metropolitan Magistrate, Bengaluru, who has suffered judgment of conviction in relation to offence punishable under Sec. 138 of the Negotiable Instruments Act ('N.I.Act' for short). Learned Magistrate imposed a fine of Rs.9,55,000.00 with default sentence of six months simple imprisonment on the petitioner. Thereafter the petitioner preferred an appeal, Crl.A.No.565/2012, in the Court of the LX Additional City Civil and Sessions Judge, Bengaluru (CCH-61) and he lost his appeal also. Therefore this revision petition.

(2.) I have heard the arguments of Smt. Sohani Holla, learned Amicus Curiae for the petitioner and Sri S.N.Bhat, learned counsel for the respondent.

(3.) The respondent is a Credit Co-operative Society. The case of the respondent is that on 3/6/2004, the petitioner availed financial assistance of Rs.5,00,000.00 and agreed to repay the same with interest in installments. As he failed to repay the loan amount, the respondent initiated arbitration proceeding before the Deputy Registrar of Co-operative Societies. The Deputy Registrar of Co-operative Societies passed an award against the petitioner. Therefore the respondent took out execution for recovery of the award amount and in that course, the petitioner is said to have issued post dated cheque bearing No.126850 dtd. 25/3/2009 for Rs.6,50,000.00. The said cheque came to be dishonoured for insufficiency of funds in the bank account of the petitioner. Therefore the respondent initiated action under the provisions of Negotiable Instruments Act.