KORANIL YUSAF Vs. V.A. FIROZ

JUDGEMENT

(1.) This appeal by the complainant is against the acquittal of the accused under Sec. 138 of the Negotiable Instruments Act, 1881 ('N.I Act' for short).

(2.) As per the complaint, the accused borrowed Rs.3,75,000.00 from the complainant and subsequently issued a cheque for Rs.3,75,000.00dtd. 13/12/2010 to the complainant in discharge of the debt.

(3.) When the complainant presented the cheque for collection, the same was dishonoured due to insufficiency of funds in the account of the accused and in spite of issuance of statutory notice, the accused failed to pay the cheque amount to the complainant.