C. P. SINGH Vs. VINOD PRASAD

JUDGEMENT

(1.) The petitioner, vide the present leave petition under Sec. 378(1) of the Code of Criminal Procedure, 1973 [CrPC], seeks leave to appeal for setting aside of the judgment dtd. 29/10/2021 passed by the learned MM (NI Act)-02, Central, Tis Hazari Courts, Delhi in CC No.510612/2016 titled as C.P. Singh vs Vinod Prasad, whereby the respondent was acquitted for the offence punishable under Sec. 138 of the Negotiable Instruments Act, 1881 [NI Act].

(2.) As per the complaint filed by the petitioner, the petitioner and the respondent were on friendly terms for the past 10-12 years. Sometime in the first week of January, 2016, the respondent had approached the petitioner for a friendly loan of Rs.15,00,000.00 [Rupees Fifteen Lakhs Only] for his personal business needs and the same was extended by the petitioner to him sometime in the second week of January, 2016. In exchange for receiving the said friendly loan amount, the respondent had given original property documents of his property bearing No.B-181, Arjun Nagar, Nangli Vihar, Najafgarh, New Delhi-110043 to the petitioner as also two post-dated cheques bearing No.675042 dtd. 21/4/2016 for Rs.7,50,000.00 [cheque no.1] and bearing No.675043 dtd. 29/4/2016 for Rs.7,50,000.00 [cheque no.2], both drawn on State Bank of India, Branch Nangli Sakarwati, New Delhi. Thereafter, both the cheques were presented by the petitioner at United Bank of India, Branch Timarpur, Delhi, whereupon, cheque no.1 was returned vide return memo dtd. 25/4/2016 with the remarks 'Insufficient Funds' and the cheque no.2 was also returned with the remarks 'Insufficient Funds' vide return memo dtd. 2/5/2016. Aggrieved thereby, the petitioner sent a legal notice dtd. 6/5/2016 by registered post to the respondent. The same was duly replied to by the respondent. Thereafter, as the respondent failed to make the payment, the petitioner filed the complaint under Sec. 138 of the NI Act against him, sometime in July, 2016.

(3.) This Court, vide order dtd. 8/2/2022, issued notice. Further, vide order dtd. 12/5/2022, a fresh notice was directed to be served upon the respondent and the respondent was duly served. Finally, arguments were heard and judgment was reserved on 7/12/2023.