SHANTIRAJ DEVENDRA KUNACHI Vs. PRAKASH N. KANCHAGAR

JUDGEMENT

(1.) Heard the learned counsel for the petitioner.

(2.) The present petition is filed under Sec. 482 of Crimial P.C. seeking various reliefs, which are enumerated below:

(3.) The brief factual matrix that, emanate from the records are that, the respondent (complainant) herein has lodged a private complaint before the 13th Additional CMM Court, Bangalore City in CC.No.11353/13 under Sec. 200 of Cr.P.C for the offence punishable under Sec. 138 of Negotiable Instruments Act (for short, 'N.I. Act- ), against the petitioner. The Court has taken cognizance after due procedure and issued summons to the accused (petitioner herein). In fact, the accused appeared before the Court and initially contested the proceedings. The complainant- s case is that, the petitioner / accused entered into a transaction for purchase of two sites measuring 40 feet x 60 feet in Yalakkishettar Colony for a sum of Rs.4,65,000.00 with the respondent in the year-1998. But the petitioner herein has not performed his part of contract and as a result, the respondent suffered heavy loss to the tune of Rs.25,00,000.00. With regard to this, on repeated requests, the petitioner agreed to make good the loss to the respondent and executed a promissory note dated 11.12.2013 for a sum of Rs.25,00,000.00 and also by issuing post dated cheque bearing No.212565 dated 9-2-2013 drawn on the State Bank of Mysore, Dharwad, in favour of the respondent. The respondent has presented those cheques and those cheques were returned with the shara of ' Insufficient Funds- . After issuing legal notice for non-compliance of provision under Sec. 138 of N.I. Act, a complaint came to be lodged. During the pendency of the proceedings, the petitioner was enlarged on bail vide orders dated 30.1.2014.