SUDALAIYANDI Vs. LAKSHMANAN

JUDGEMENT

(1.) The criminal appeal is filed against the reversing judgment of the appellate Court dated 20.10.2017

(2.) Heard the learned counsel appearing for the appellant and the learned counsel appearing for the respondent.

(3.) The brief facts of the case is that the appellant herein alleged that the respondent has borrowed a sum of Rs. 5,00,000/- from him on 104.2010 agreed to pay the interest at the rate of 2% per month and also gave a cheque dated 110.2010. When the cheque was presented for collection, its bounced with an endorsement 'insufficiency of funds'. Therefore, after serving a statutory notice, complaint has been filed under Section 138 of Negotiable Instruments Act.