RAMDAS KELU NAIK Vs. ASHOK GANAPATI SHETTY

JUDGEMENT

(1.) This appeal is filed by the appellant-complainant under Sec. 378(4) of the Code of Criminal Procedure, challenging the judgment of acquittal dtd. 31/3/2016, passed by the JMFC, 2nd Court, Karwar, in C.C.No.419/2010 by acquitting the accused-respondent herein for the offence under Sec. 138 of Negotiable Instruments Act, 1881.

(2.) The brief factual matrix leading to the case are that, the complainant is the permanent resident of Karwar and he is doing real estate business. The respondent-accused is also a businessman doing share marketing of commodity and equity share business.

(3.) It is further asserted that both the accused and the complainant came in contact in respect of their business and the accused asked the complainant to join his business with an assurance to give Rs.15,000.00 per month, in case he invests Rs.1,50,000.00 in the business. Accordingly, the complainant invested Rs.1,50,000.00 by paying the amount to accused through cheque. But as per the agreement, the accused did not pay the monthly profit of Rs.15,000.00 as well as the investment amount. The complainant demanded for repayment of his amount. It is alleged that on 14/12/2019 the complainant has issued a cheque bearing No.94137 for Rs.1,50,000.00 drawn on Axis Bank Ltd., Branch Shan Complex, Green Street, Karwar, towards discharge of legally enforceable debt in respect of the investment made by the complainant. The complainant is said to have presented the said cheque and it was bounced for insufficient funds and subsequently, in spite of issuance of legal notice, the amount was not repaid. Hence he submitted a complaint under Sec. 200 of Cr.P.C.