A. MANI Vs. G MURUGAN

JUDGEMENT

(1.) For the sake of convenience, the petitioner and the respondent will be referred to as the complainant and the accused respectively.

(2.) It is the case of the complainant that the accused borrowed Rs.9 lakhs for his business needs and executed a promissory note as security; towards the said debt, the accused gave a cheque bearing no.177982 dated 01.03.2011 drawn on State Bank of India, Gobichettipayalam Branch, for a sum of Rs.9 lakhs; when the complainant presented the cheque, it was returned with the endorsement "insufficient funds"; the complainant issued a statutory demand notice dated 21.07.2011 to the accused, for which, the accused issued a reply notice dated 30.07.2011 disputing the very debt; hence, the complainant initiated a prosecution in C.C. No.2977 of 2011 under Section 138 of the Negotiable Instruments Act, 1881, in the Court of the Metropolitan Magistrate (FTC No.IV), George Town, Chennai, against the accused.

(3.) The complainant examined himself as P.W.1 and marked seven exhibits. The accused examined himself as D.W.1 and marked five exhibits.