SURESH FULCHAND BUMB Vs. SHANTIKUMAR K DAMANI

JUDGEMENT

(1.) HEARD.

(2.) RULE. Rule made returnable forthwith by consent of the parties.

(3.) THE petitioner herein is a original complainant who filed a complaint under section 138 of the Negotiable Instruments Act, 1881, on 21-5-1997. The case of the complainant is that he and accused both were running a business as share brokers. The complainant had a terminal of the National stock Exchange. The respondent approached the complainant for some transaction to be done with the help of the terminal. The parties agreed for the said transaction and in furtherance of the same, the respondent was to pay an amount of Rs. 35,191/- to the petitioner. Out of the said amount, an amount of Rs. 12,034/- was paid by cheque No. 230143 dated 10-4-1997. The cheque was deposited in the Bank. The same was dishonoured for want of sufficient funds. On the request of the accused, the cheque was deposited again on 12-4-1997 which was again dishonoured for insufficient funds in the account of the accused. In spite of repeated requests, the amount was not paid by the accused and, therefore, on 24-4-1997, the petitioner, by issuing a notice, called upon the respondent to pay the amount. The respondent failed to comply as per the notice and therefore, the complaint was filed.