BHAYARAJU Vs. M. NAGARAJU

JUDGEMENT

(1.) This Appeal is by the complainant challenging the judgment and order in Crl.A.No.994/2009, whereby the Sessions Court has set aside the judgment and order of conviction of the accused for the offence punishable under Sec. 138 of the N.I.Act.

(2.) For the sake of convenience, the parties are referred to by their rank before the trial Court.

(3.) It is the case of the complainant that accused borrowed a sum of Rs.50,000.00 with a promise to repay the same within three months with interest at 2% p.m. When he failed to repay the said amount, on insistence by the complainant, he issued a cheque dtd. 23/10/2007 for a sum of Rs.50,000.00. However, when he presented the cheque for realization, it was returned with endorsement "Funds insufficient". Though he got issued a legal notice and it is duly served on the accused, he has neither paid the amount due under the cheque nor sent reply. Without any alternative he has filed the complaint.