LEKH RAJ SHARMA Vs. YASH PAL GUPTA

JUDGEMENT

(1.) The present leave petition has been preferred under Section 378(4) Cr.P.C. to seek leave to appeal against the judgment dated 03.07.2014 passed by the learned Metropolitan Magistrate-04 Dwarka Courts, New Delhi in CC No. 1884/1/12 - a complaint filed by the petitioner under Section 138 of the Negotiable Instruments Act (the NI Act) titled 'Lekh Raj Sharma vs. Yashpal Gupta'. By the impugned judgment, the learned MM has acquitted the respondent/accused of the alleged offence. After hearing the learned counsel, the Court was inclined to grant leave and with consent of learned counsel, heard their argument on the appeal and reserved judgment. Accordingly, the Registry is directed to register and number the criminal appeal.

(2.) The case of the complainant-appellant, as narrated in the complaint, is that the complainant and accused have known each other for the last about 40 years and have had close friendly relations with each other. The accused had a manufacturing unit and was carrying on the business in the name of Yash Engineering, being a proprietary firm of the accused. The accused started facing some financial crisis in his business and the complainant came forward to help him.

(3.) In the month of April, 2011, the accused urgently needed money and approached the complainant with a request to arrange Rs. 4 lacs, which he promised to return after a few months. The complainant arranged the sum of Rs. 4 lacs and gave it to the accused. The accused returned the same in the month of April, 2012. The accused again requested the complainant to arrange an amount of Rs. 4.50 lacs, for his business. The amount of Rs. 4.50 lacs was given by the complainant to the accused, who executed a pronote dated 15.05.2012 and promised to pay interest @ 1.5% p.m. The accused again approached the complainant in July, 2012 to arrange a further loan of Rs.4 lacs. Accordingly, the complainant arranged a loan of Rs. 4 lacs from his sources. The accused executed a pronote dated 20.07.2012 after receiving the said amount and agreed to pay interest @ 1.5% p.m. The accused even paid the interest, however, only till the month of August, 2012.