USMAN GANI Vs. SHRIRAM TRANSPORT FINANCE COMPANY LTD

JUDGEMENT

(1.) This petition has been filed by the petitioner/accused challenging the judgment passed by the II Addl. Sessions Judge, Ballari, in Criminal Appeal No.6/2016 dated 10.03.2017, whereunder the appeal was dismissed by confirming the judgment of conviction and order of sentence passed by the Civil Judge and JMFC, Sandur, in C.C.No.675/2011 dated 11.01.2016.

(2.) I have heard the learned counsel for the petitioner and the learned counsel for the respondent.

(3.) The factual matrix of the case of the complainant is that, the complainant is a Finance Company giving loans to the persons who are intending to purchase the vehicles. The accused approached the complainant company to take a loan of Rs.11,46,680.00 for purchase of HGV model 2006 vehicle bearing registration No.KA.35/8410 and he also executed hypothecation agreement in favour of the complainant company and subsequently he became a defaulter and liable to pay a sum of Rs.8,50,000.00. For discharging the said amount, accused/petitioner issued a cheque bearing No.458530 dated 11.04.2011 for a sum of Rs.8,50,000.00 drawn on Pragathi Gramina Bank, Chornur Branch. Thereafter, the complainant presented the said cheque through their banker viz., the Royal Bank of Scotland, N.V., Chennai, on 11.04.2011, and the said cheque was returned unpaid with an endorsement "insufficient funds" and the same was intimated on 21.05.2011. Thereafter, a legal notice came to be issued on 13.06.2011. Though the legal notice was served on 18.06.2011, the accused did not reply nor paid the amount and became a defaulter and, as such, a complaint was lodged for the offence under Sec. 138 of the Negotiable Instruments Act (for short the 'NI Act').