S.S. RAMESH Vs. K.LOKESH

JUDGEMENT

(1.) This revision petition is filed by the accused under Sec. 397 read with Sec. 401 of Cr.P.C., challenging the judgment of conviction and order of sentence passed by the XII Additional Chief Metropolitan Magistrate, Bengaluru in C.C.No .3892/2008 dtd. 29/12/2011 and confirmed by the Fast Track Court-IV, Bengaluru City in Crl.A.No.75/2012 dtd. 22/4/2013 .

(2.) The brief factual matrix leading to the case are that the complainant is a businessman and accused is known to him and he used to get financial assistance from the complainant. It is further asserted that due to business needs, the accused has taken a hand loan of Rs.5,00,000.00 from the complainant in the year 2002 agreeing to repay the said amount with interest @ 24% per annum. It is also alleged that the accused failed to repay the loan amount as well as interest and ultimately the accused and complainant have arrived at a settlement on 7/12/2007 and accused agreed to pay a sum of Rs.8 ,60 ,000.00 for discharging all his debt of Rs.5,00,000.00 with interest thereon and issued a cheque for Rs.8,60,000.00 drawn on State Bank of India, Tyagarajanagara Branch, Bengaluru. When the said cheque was presented, it bounced for insufficiency o f funds and hence the complainant has issued a legal notice . The accused did not repay the said amount and hence the complaint came to be lodged under Sec. 200 of Cr .P.C., for the offence punishable under Sec. 138 of Negotiable Instruments Act (hereinafter referred to as 'N.I .Act' for short).

(3.) The learned Magistrate has taken cognizance of the offence and issued process against the accused. The accused has appeared through his counsel and was enlarged on bail. He denied the accusation under Sec. 138 of N.I .Act.