N. VENKATESH Vs. BASAVALINGARAJU M.G.

JUDGEMENT

(1.) This revision petition is filed challenging the impugned judgment of the trial Court and the appellate Court convicting the petitioner for offence punishable under Sec. 138 of Negotiable Instruments Act and the consequent sentence.

(2.) When the revision petition was listed for admission, the parties have settled the dispute and have filed an application under Sec. 147 of the Negotiable Instruments Act. In terms of the settlement, the petitioner has agreed to pay and the respondent has agreed to receive a sum of Rs.2,75,000.00 (Rupees Two Lakh Seventy Five Thousand only) towards full and final settlement of the dispute arising out of the cheque in question. As a result, the petitioner has no objection for release of a sum of Rs.25,000.00 deposited before the trial court in C.C NO.27010/2014. The petitioner has this day paid a sum of Rs.1,00,000.00, the receipt of which is acknowledged by the respondent. The balance of Rs.1,50,000.00 shall be paid by or before 28/4/2023. The respondent has no objection to compound the offence against the petitioner by accepting the settlement.

(3.) In that view of the matter, subject to the petitioner paying up Rs.1,50,000.00 before 28/4/2023, this revision petition is allowed. Consequently, the judgment of conviction dtd. 2/11/2016 passed by XIX Additional Chief Metropolitan Magistrate at Bengaluru City in C.C.No.27010/2014 and the judgment dtd. 5/9/2018 passed by 55th Additional City Civil and Sessions Judge, Bengaluru in Crl.A No.1374/2016 are set aside. The amount in deposit before the trial Court shall be released in favour of the respondent. It is made clear that in the event of the petitioner failing to comply with the promise made to the respondent in the application under Sec. 147 of the N.I. Act , the respondents will be entitled to seek revival of this revision petition.