SRINIVASULU Vs. PARTHASARATHI

JUDGEMENT

(1.) The Appellant preferred this appeal against the order of acquittal dated 21.6.2011 wherein the Learned III Additional Sessions Judge reversed the finding of the Trial Court in C.A.No.86 of 2010 against C.C.No.12831 of 2003 on the file of learned Vth Metropolitan Magistrate, Egmore, Chennai.

(2.) Brief case of the Appellant;

(3.) That the appellant/complainant was initially paid interest for a few months and thereafter failed to pay interest and later upon repeated requests and demands from the side of the appellant/complainant, the respondent/accused had on 1.7.2003 agreed at Rs.23,36,000/- towards principal and interest due and had issued a cheque bearing number 423026 drawn on state Bank of India, Kumbakonam branch for a sum of Rs.23,36,000/- towards the principal and interest from the date of default payment in settlement and discharge of the liability aforesaid. The appellant/complainant had presented the aforesaid cheque for collection and realization on 21.7.2003 with his bankers, State Bank of Travancore, Anna Nagar East and the impugned cheque was returned on 24.7.2003 with an endorsement Not Arranged for" and an intimation slip was issued by the bankers of the appellant/complainant to that effect on 27.7.2003. The appellant/complainant has also marked as evidence before this Hon'ble Court, the returned cheque, returned memo and intimation slip. Thereafter the appellant/complainant issued statutory notice as contemplated under the provisions of section 138 of Negotiable Instruments Act on 8.8.2003 demanding the respondent/accused to pay the amount covered by the cheque within 15 days from the date of receipt of the said notice and the said notice was received by the respondent/accused on 28.8.2003. The notice and the acknowledgement card indicating the receipt of the notice by the respondent/accused had also been marked as exhibits.