JABY PAUL Vs. M.S.KRISHNAN KUTTY

JUDGEMENT

(1.) The above appeal is filed against the acquittal order dated 29.1.2005 passed by the Judicial First Class Magistrate Court I, Ernakulam in C.C.No.1008/2001. The above case is filed by the appellant against the 1st respondent alleging offence punishable under Section 138 of the Negotiable Instruments Act (for short ' N.I Act ') (hereinafter the parties are referred in accordance with their status before the trial court).

(2.) The prosecution case is that the accused borrowed an amount of Rs.1 lakh from the complainant with an undertaking to repay the same with 24% interest. In discharge of the liability, the accused issued a cheque and when the cheque was presented for encashment, the same was dishonoured with an endorsement 'funds insufficient'. Eventhough, lawyer notice was issued, the amount was not paid and hence the complaint was filed.

(3.) To substantiate the case, the prosecution examined PW1, who is the complainant. Exts.P1 to P8 are the documents. DW1 and DW2 were examined on the side of the defence.