DEEPAK AGGARWAL Vs. STATE & ANR.

JUDGEMENT

(1.) - The instant revision petitions, i.e., Crl.Rev.P. 853/2015 and Crl.Rev.P. 302/2016, preferred by the revisionist under Sec. 397 read with Sec. 401 of Crimial P.C. are arising out of a complaint filed under Sec. 138 of the Negotiable Instruments Act,1881 by the respondent no.2- M/s Sood & Sood Builders Pvt. Ltd. wherein the learned Metropolitan Magistrate convicted the revisionist vide judgment dated 04.09.2015 and order on sentence dated 07.09.2015. Aggrieved by the aforesaid conviction judgment and order on sentence both the present parties preferred to file appeals before the learned District and Sessions Judge/ Additional District & Sessions Judge who vide order/judgment dated 22.12.2015 passed the impugned order/ judgment. Thereafter the revisionist aggrieved from the impugned order dated 22.12.2015 passed by the learned ASJ preferred the instant revision petitions.

(2.) The brief facts stated are that the respondent no.2- M/s Sood & Sood Builders Pvt. Ltd. had filed a complaint under Sec. 138 of the Negotiable Instrument Act, 1881(hereinafter referred to as NI Act) through its Director Mr. A.P. Sood against Mr. Deepak Aggarwal, the present revisionist, who was the Director of M/s Avenue Holding Pvt. Ltd. It is alleged in the complaint that both Mr. A.P. Sood and the revisionist were known to each other and in the month of June, 2010 the revisionist herein requested the respondent for a short term financial assistance for a sum of Rs. 51,00,000.00 (Rupees Fifty One Lakhs Only) subject to return with interest at the rate of 36% p.a. to meet uncalled exigency. On the request of the revisionist, the respondent gave Rs. 51 lakhs to the revisionist vide cheque no. 299237, dated 14.06.2010, drawn on HSBC Bank. Against the said payment the revisionist herein executed a promissory note for a sum of Rs. 51 lakhs in favour of the respondent.

(3.) It is further alleged in the complaint that again in the month of Aug., 2010, the revisionist approached the respondent and requested for further financial help. The respondent again gave Rs. 19 lakhs to the revisionist through RTGS. Against the payment of Rs. 19 lakhs, the revisionist executed another promissory note in favour of the respondent. After due deductions, the revisionist issued two following cheques, first cheque no. 246320 of Rs. 70 lakhs and second cheque no. 246321 of Rs. 20 lakhs both dated 15.05.2011 drawn on Axis Bank Limited, to repay the said amount along with the interest at the rate of 36% p.a. to the respondent.