G. N. RAMESH BABU Vs. K. MUNAWAR

JUDGEMENT

(1.) Being aggrieved by the acquittal of accused for the offence punishable under Sec. 138 of N.I. Act by the trial Court, complainant has filed this appeal under Sec. 378 (4) of Cr.P.C.

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

(3.) It is the case of the complainant that he and accused are known to each other since long time. On 27/7/2004, accused borrowed a sum of Rs.8.00 lakhs for the purpose of his lorry business. He agreed to pay interest at the rate of 2% p.m. and including the interest up to 10/8/2005, accused issued a cheque for a sum of Rs.10.00 lakhs drawn on his account in Canara Bank, Channagiri Branch in favour of the complainant. This transaction was held in the presence of one Lingamurthy and Subbarao. Accused failed to pay the amount due as promised, but sought two months time. After two months, complainant presented the cheque on 6/10/2005 for encashment. When presented, it was returned dishonored with an endorsement that there is stop payment instructions by the accused.