S. RAMCHANDRAPPA Vs. N. SRINIVASA MURTHY

JUDGEMENT

(1.) This revision petition is directed against the judgment dtd. 24/8/2017 passed in Crl.A.No.608/2015 by the LXVI Additional City Civil and Sessions Judge, Bangalore City where under the judgment of conviction dtd. 26/3/2015 passed in C.C.No2430/2009 by the XVIII ACMM, Bengaluru convicting the petitioner for the offence punishable under Sec. 138 of the N.I.Act and sentenced to pay fine of Rs.25,30,000.00 and in default to undergo simple imprisonment for one year has been affirmed.

(2.) Heard learned counsel for the petitioner and learned counsel for the respondent.

(3.) It was the case of respondent - complainant before the trial Court that petitioner - accused has negotiated with the respondent - complainant to purchase the complainant's property situated at Kattigenahalli Village, Jala Hobli, Bangalore North Taluk for a total consideration of Rs.1.10 Crores. In pursuance of the contract, an agreement of sale was got executed and registered on 5/7/2007 and the complainant has executed power of attorney in favour of sons of accused R.Prakash and R.Somesh. At the time of execution of GPA, the petitioner - accused has expressed his financial constraints and sought for hand loan of Rs.35,00,000.00 from the complainant. Accused promised to repay the said amount within 23 months. The complainant believed the words of accused and advanced Rs.35,00,000.00 as hand loan to the accused. In order to repay the amount borrowed the accused said to have issued four post dated cheques in favour of the complainant dtd. 5/9/2007 for Rs.10,00,000.00 and Rs.5,00,000.00 and another two cheques dtd. 5/10/2007 for Rs.10,00,000.00 each drawn on State Bank of Mysore, HRBR Layout Branch, Bangalore. During August 2007 the accused had requested the complainant to present the cheques in the month of march 2008. The complainant presented cheque Nos.954076 and 954077 issued for Rs.10,00,000.00 and Rs.5,00,000.00 and as per memo dtd. 4/3/2008, both the cheques were returned with endorsement "funds insufficient." The complainant has also presented other two cheques bearing Nos.954078 and 954079 dtd. 5/10/2007 and the said cheques were returned unpaid as per memo dtd. 15/3/2008 with endorsement "funds insufficient." The accused has requested the complainant to re-present the cheque No.954078 for Rs.10,00,000.00 and agreed to pay remaining cheque amount by cash. The complainant got issued legal notice to the accused dtd. 31/3/2008 calling upon him to pay the amount of cheques. The said notice has been returned to the complainant with an endorsement "unclaimed." The accused has not paid the amount of cheques within 15 days. Therefore, the complainant initiated proceedings against the petitioner for the offence punishable under Sec. 138 of the N.I.Act.