DINAKARA SHETTY Vs. CITY FINANCE CORPORATION

JUDGEMENT

(1.) This is a petition filed by accused, challenging his conviction and sentence for the offence punishable under Sec. 138 of the Negotiable Instrument Act (for short 'N.I.Act') imposed by the trial court, which came to be confirmed by the Sessions Court, by dismissing the appeal filed by him.

(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 it is a registered firm dealing in money lending and investment business. On 16/10/2010, accused borrowed loan of Rs.80,000.00 from the complainant firm, with a promise to repay the same with interest. However, he failed to keep up with his promise. On 19/9/2002, accused was due in a sum of Rs.1,20,000.00. When complainant demanded the said amount, accused issued a cheque dtd. 19/9/2002, for a sum of Rs.1,20,000.00. However, on 23/9/2002, when complainant present the cheque for realization, it was returned dishonoured for "Funds insufficient". Complainant got issued a legal notice dtd. 30/9/2002. It is duly served on the accused. However, he has neither paid the amount due under the cheque nor sent any reply and hence the complaint.