VAISHNAV SECURITIES Vs. SASI T.

JUDGEMENT

(1.) This appeal is filed against the judgment dtd. 20/9/2006 in Crl. Appeal No. 294 of 2005 of the II Additional Sessions Judge, Palakkad, whereby the judgment dtd. 26/5/2005 of the Judicial First Class Magistrate-II, Palakkad in S.T. No. 6079 of 2003 is set aside and the first respondent/accused was found not guilty of the offence under Sec. 138 of the Negotiable Instruments Act, 1881 (for short 'NI Act') and acquitted.

(2.) The appellant is the complainant. The case of the complainant firm is that a loan of Rs.70,000.00 was advanced by the complainant to the accused in furtherance of a hire purchase agreement on 7/3/2001 and towards part payment of the liability, the accused issued cheque dtd. 25/9/2003 for Rs.35960.00 and when the complainant presented the cheque for collection, the same was dishonoured as per memo dtd. 13/10/2003 with the endorsement 'refer to drawer' and in spite of issuance of statutory notice, the accused failed to pay the cheque amount.

(3.) In the trial court, from the side of the complainant, PW1 was examined and Exhibits P1 to P7 were marked and no evidence adduced from the side of the accused. After considering the oral and documentary evidence on record and after hearing both sides, the trial court found the accused guilty of the offence under Sec. 138 of the NI Act and sentenced him to undergo simple imprisonment for 3 months and to pay a compensation of Rs.26,000.00 and in default of payment of compensation, to undergo simple imprisonment for one month.