TENNY JOSE, MANAGING DIRECTOR Vs. MANAGING PARTNER, NEW METALISED AGENCY, IRON AND STEEL MERCHANT, KOTTAYA

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 purchased goods from the company in which the complainant is the Managing Director and towards payment of the amount due, the accused issued cheque dtd. 1/12/1997 for Rs.1,39,285.50.

(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.