INDO ASIAN FINANCE LTD Vs. SURESH S

JUDGEMENT

(1.) This Criminal Appeal has been filed against the Judgment made by the I Additional Sessions Judge, City Civil Court, Chennai in C.A.No.222 of 2011, dated 21.06.2012 reversing the judgment and conviction made in C.C.No.125 of 2009, dated 10.10.2011 made by the XVIII Metropolitan Magistrate, Saidapet, Chennai.

(2.) The appellant herein is the complainant before the trial Court and the respondent herein is the accused before the trial Court. Accordingly both of them are called as complainant and accused respectively for the sake of convenience.

(3.) According to the complainant, namely M/s.Indo Asian Finance Ltd., Company, it is a Limited company and is dealing with finance business. During the course of the business, the accused availed a loan by entering in to an hire purchase agreement in I.A.H.P.04697, dated 15.05.2006 for the purpose of purchasing one AL Tipper vehicle (Lorry) bearing Registration No.TN 32 V 4284 for a sum of Rs.9,10,000/-. It is the further case of the complainant that, as per the repayment schedule, the accused paid only a sum of Rs.1,10,000/- and therefore the remaining due of Rs.8,00,000/- he had to pay, but he has failed to pay the same till the year 2008. Therefore a repeated request and demand had been made on behalf of the complainant company and in response to the same, the accused had issued a cheque, bearing No.233386, dated 04.04.2008 for a sum of Rs.8 lakhs drawn on HDFC Bank, Pondicherry Branch in favour of the complainant company to discharge the said liability. At the time of issuance of the cheque, the accused had promised that, the cheque would be honored on its presentation.