V P BALASUBRAMANI Vs. C KRISHNAKUMAR

JUDGEMENT

(1.) The Judgment of conviction and sentence dated 26.10.2016 passed in S.T.C.No.971 of 2011 by the learned Judicial Magistrate, Fast Track Court at Magisterial Level, Karur, as reversed in C.A.No.77 of 2016, dated 05.01.2017 by the learned Sessions Judge, Mahalir Fast Track Judge, Karur is being challenged in the present Criminal Revision Case.

(2.) The appellant V.P.Balasubramani is the complainant in S.T.C.No.589 of 2011 on the file of the learned Judicial Magistrate, Fast Track Court at Magisterial Level, Karur. According to his complaint filed under Sections 138 and 142 of N.I. Act, Krishnakumar, the respondent herein is known to him for the past 15 years. He was dealing in share market. To meet out his business exigencies, he borrowed a sum of Rs. 3,15,300/- from the complainant on 09.07.2007 and agreed to pay interest at the rate of 6 paise per Rs. 100/- per day and paid the interest upto 06.09.2007. In order to discharge the liability in full satisfaction, two post dated cheques dated 06.09.2007 drawn in favour of the complainant in the account maintained by the accused at Punjab National Bank, Karur Branch for Rs. 1,48,100/- and Rs. 1,67,200/- were issued with an assurance that the cheques will be honoured on its presentation. The cheques were presented on 06.10.2007 through Karur Vysya Bank, Main Branch by the complainant for collection. The cheques were returned unpaid as payments stopped by drawer. Statutory notice was issued to the accused. On receipt of the notice, the accused replied denying the liability and issuance of cheque for discharging the liability. Hence, the complaint.

(3.) Before the Trial Court, two witnesses were examined on behalf of the complainant. 9 exhibits were marked. The accused examined one Ravichandran and marked 6 exhibits on his behalf besides through P.W.2, the copy of stop payment letter issued to the bank by the accused was marked.