S.T. KRISHNA SHETTY Vs. HARI CHARANSINGH

JUDGEMENT

(1.) Heard the learned counsel for appellant. The respondent is served and remains absent.

(2.) The appellant was the complainant before the Court below alleging an offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the 'N.I.Act', for brevity).

(3.) It was the case of the complainant that the appellant and the respondent were friends and since the respondent wanted to borrow a large sum of money, the appellant herein had lent him a sum of Rs.7,55,000/- on 03.08.2005 and in repayment of the same the respondent is said to have issued five cheques in favour of the complainant i) cheque bearing No. 175935 dated 20.09.2005 for a sum of Rs.1,35,000/- in account bearing No.7733, ii) cheque bearing No. 179536 dated 20.09.2005 for a sum of Rs.1,50,000/- in account bearing No.7733, iii) cheque bearing No. 0627340 dated 21.09.2005 for a sum of Rs.1,00,000/- in account bearing No.298, iv) cheque bearing No.0627334 dated 04.10.2005 for a sum of Rs.2,30,000/- in account bearing No.7733 and v) cheque bearing No.175934 dated 17.10.2005 for Rs.1,30,000/- in account bearing No.7733. These were sent for collection through the appellant s banker on 04.02.2006, but they were returned dishonoured, with an endorsement that the funds were insufficient.