KANORIA INDUSTRIES LTD Vs. VENKATESH TRADERS PROPRIETOR

JUDGEMENT

(1.) This appeal is directed against the judgment and order dated 06.03.2009 passed by the II Additional J.M.F.C., Bagalkot in C.C. No.2056/2006, whereby the learned Magistrate has acquitted the respondent/accused of the offences punishable under Sections 138 and 142 of the Negotiable Instruments Act (hereinafter called as "N.I. Act").

(2.) The facts leading to the appeal are as follows: The complainant, Kanoria Industries Limited is a public limited company. It initiated action against the respondent/accused alleging that the respondent acknowledged the debt of one Satyappa Vantagodi of Jamkhandi in respect of the cement supplied by the complainant to him and in discharge of the said debt, issued a cheque bearing No.822232 dated 30.12004 for Rs.1,36,234/-. The said cheque when presented for encashment came to be dishonoured for "funds insufficient". The complainant issued the statutory notice on 20.01.2005. The notice was served on the accused on 24.01.2005. The accused having failed to comply with the demand made therein, the complainant approached the Court with a complaint under Sections 138 and 142 of N.I. Act.

(3.) The Legal Officer of the complainant's company was examined as P.W.1 and through him, the complainant produced in evidence the original cheque Ex.P-1, bank endorsements Ex.P-2, copy of the legal notice Ex.P-3, postal acknowledgment Ex.P-4, letter issued by the accused dated 30.12.2004 Ex.P-5 and the account ledger extract Ex.P-6. In rebuttal, the accused examined himself as D.W.1 and produced in evidence eight documents, namely copy of the endorsements, copy of the account extract, copy of the order sheet in P.C. No.185/2003, copy of the specimen signature card, copy of the account opening receipt as Exs.D.1 to D.8.