VEERESH FINANCE CORPORATION (R), BY ITS P.A. HOLDER AND ASSISTANT MANGER, CHANABASAPPA, BAGALKOT Vs. SHIVAKUMAR

JUDGEMENT

(1.) The Appellant has called in question the correctness and legality of the Order passed by the I Additional JMFC, Bagalkot dated 15.12.2009 in C.C. No. 203/2006, whereby the Complaint filed by the Appellant under Section 138 of Negotiable Instruments Act (hereinafter referred to as the 'Act') has been dismissed and the Respondent (hereinafter referred to as the 'Accused') is acquitted of the offence punishable under Section 138 of the Act.

(2.) The case of the Complainant is that it is a Partnership/Firm carrying on Money Lending business. On 6.1.1998, the Accused borrowed a Loan of Rs. 50,000 from the Complainant-Firm for his fertilizer business. In repayment of the said Loan, he issued a Cheque bearing No. 180903, dated 21.4.2003 drawn on State Bank of Mysore Bagalkot for Rs. 50,000. The said Cheque when presented for encashment came to be dishonoured for the reason 'funds insufficient'. The Complainant issued a Legal Notice on 3.5.2003. It was served on the Accused on 6.5.2003. The Accused neither complied with the demand made therein nor chose to reply to the said Notice. Hence, the Complainant sought action against the Accused under Section 138 of the Act.

(3.) On service of Summons, the Accused faced trial. The Assistant Manager of the Complainant-Firm examined himself as PW1 and produced in evidence the original Cheque as per Ex.Pl, Bank endorsement as per Ex.P2, copy of the Legal Notice as per Ex. P3, Postal Acknowledgment as per Ex. P4, copy of GPA as per Ex. P5 and the Postal Receipt as per Ex. P6. In rebuttal, the Accused examined himself as DW1 and produced the Certificate issued by Vars Builders Private Limited.