CELEBRATIONS Vs. MILI SINGH

JUDGEMENT

(1.) Criminal Appeal under Sec. 378(4) read with Sec. 482 Cr.P.C. has been filed by the Appellant challenging the impugned Judgment dtd. 29/7/2020 vide which the learned MM, N.I. Act has acquitted the Respondent for an offence under Sec. 138 NI Act.

(2.) Briefly stated, the Petitioner/M/s Celebrations through its proprietor Mr. Sumit Batra filed a Complaint under Ss. 138/142 NI Act. It is submitted that Mr. Sumit Batra was running its business from Shop No.2, Mini Central Market, DDA Flats, Kalkaji, New Delhi. The Respondent/Accused informed the Complainant that she was running Portfolio Management Scheme for which she collects money from small investors and after conducting thorough research, invests the money in shares of Blue Chip Companies through Stock Market. She assured minimum return of 10% per month on sum invested. He, induced and deceived by such representations of the Respondent, gave Rs.7,50,000.00 from 22/8/2017 till 4/9/2017 to the Respondent for investing in stock market under Portfolio Management Scheme. On 21/9/2017, Respondent credited a sum of Rs.75,000.00 in his account for the month of September, 2017, but thereafter, she failed to give any return/profit to him.

(3.) On his repeated demand to return the money, the Respondent issued a cheque No.820783 dtd. 25/6/2018 for Rs.7,50,000.00 drawn on IDBI Bank, CR Park, New Delhi. However, on presentation the said cheque was dishonoured with the remarks 'Funds Insufficient' vide Cheque Return Memo dtd. 27/6/2018. The Complainant gave Legal Notice dtd. 11/7/2018 to the Respondent at her correct residential address, but she manoeuvred to get it returned with remarks 'house found locked and left'. The Appellant then filed the Complaint under Sec. 138 NI Act.