BHANARAM CHOUDHARY Vs. EBSI PVT.LTD.

JUDGEMENT

(1.) This appeal is preferred by the complainant in C.C. No.33334/2018 on the file of the Court of XXIII Additional Chief Metropolitan Magistrate, Bengaluru City, whereby, vide impugned Judgment dtd. 16/3/2021, the learned Magistrate has acquitted the respondents/accused Nos.1 and 2 of offence punishable under Sec. 138 of the Negotiable Instruments Act [hereinafter referred to as ' N.I. Act ' for short].

(2.) Though the matter is listed for admission, with the consent of both the learned counsel, it is taken up for final disposal.

(3.) It is the complainant's case that accused No.2 was running a company under the name and style 'D Capital Pvt. Ltd.' and for improvement of the said business, he took a hand-loan of Rs.6.00 lakhs from the complainant on 23/3/2017 promising that the said amount will be returned within a short period. Towards repayment of the loan amount, he issued a cheque bearing No.000001, dtd. 24/5/2018 for a sum of Rs.6.00 lakhs, drawn on Bank of Baroda, Jayanagar, Bengaluru. The said cheque when presented to the Bank, was dishonoured on 29/5/2018 with an endorsement 'funds insufficient'. Again the complainant presented the said cheque in the first week of July 2018 at the request of the accused, but the cheque came to be dishonoured on 5/7/2018 with an endorsement stating 'opening balance insufficient'. Once again the said cheque was presented to the bank during third week of August 2018. However, it was dishonoured again on 13/8/2018 for the reason 'funds insufficient' in the account of the accused. Thereafter, a legal notice was issued to the accused on 5/9/2018 and inspite of due service of notice on the accused, he failed to pay the amount and therefore, committed an offence punishable under Sec. 138 of the N.I. Act.