SHEIK ALLAUDIN Vs. K. SRINIVASAN

JUDGEMENT

(1.) Heard the Learned Counsel for the Revision Petitioner and the Learned Counsel for the Respondent.

(2.) This Revision Petition is directed against the concurrent finding of the Courts below in the matter arising under Sec. 138 of Negotiable Instrument Act.

(3.) The case of the complainant is that the accused borrowed a sum of Rs.3,00,000.00 from the him on 10/3/2006 and executed a pro-note. When he demanded for re-payment of the money, the accused issued a cheque dtd. 4/9/2006 drawn on Indian Overseas Bank, for a sum of Rs.3,00,000.00. When the cheque was presented for collection, same was returned with memo stating that "insufficient of fund". The complainant sent statutory notice dtd. 15/9/2006 to the accused calling him to pay the cheque amount or to face the consequence. The accused gave a reply dtd. 1/10/2006 with evasive answer but denied the liability. Hence the complaint was filed before the Judicial Magistrate, Sirkali and same was taken on file in S.T.C. No. 1232 of 2006.