K. P. RATHIKUMAR Vs. N. K. SANTHAMMA

JUDGEMENT

(1.) DOES the admission that the cheque was issued as security for repayment of the loan take the transaction out of the sweep of Section 138 of the N.I. Act? This is the relevant question that falls for consideration in this revision petition directed against a concurrent verdict of guilty, conviction and sentence in a prosecution under Section 138 of the N.I. Act.

(2.) THE cheque is for an amount of Rs.20,000/-. It bears the date 1-1-2001. The petitioner now faces a sentence of S.I. for a period of two months. There is also a direction to pay an amount of Rs.20,000/- as compensation and in default to undergo S.I. for a period of one month.

(3.) THE courts below, in these circumstances, concurrently came to the conclusion that the complainant has succeeded in establishing all ingredients of the offence punishable under Section 138 of the N.I. Act. Accordingly they proceeded to pass the impugned concurrent judgments.