BRIJESH KUMAR Vs. SANTOSH KUMAR SINGH

JUDGEMENT

(1.) - The present appeal is directed against the judgment dated 12th October, 2015 passed by the learned Metropolitan Magistrate in CC No.868/2013, titled as 'Brijesh Kumar v. Santosh Kumar Singh', whereby the said complaint preferred by the appellant under section 138 of the Negotiable Instruments Act, 1881 (in short 'NI Act') was dismissed and the respondent/accused was acquitted.

(2.) Briefly, the facts as per the appellant are that the respondent approached the appellant in April, 2013 for a friendly loan of Rs. 14,40,000/- due to his emergent need. Appellant advanced the aforesaid loan with an interest @ 10%. However, the respondent failed to make the payment despite repeated reminders. In July, 2013, respondent issued a cheque bearing No. 12282 dated 8th July, 2013 drawn on Union Bank, Sundar Nagar for Rs. 14,40,000/- in favour of the appellant. Aforesaid cheque was returned vide return memo dated 27th August, 2013 with endorsement "Funds Insufficient". Despite legal notice dated 14th September, 2013, the respondent did not make any payment in discharge of his liability. Thus, the complaint was preferred.

(3.) Pre-summoning evidence was closed vide order dated 11th December, 2013. Notice under Section 251 Cr.P.C., 1973 was framed on 20th March, 2014 to which the respondent pleaded not guilty and claimed trial.