CABRAL AND CO Vs. WILLIAM ROSARIO FERNANDES

JUDGEMENT

(1.) THIS revision is by the accused who has been convicted under Section 138 of the Negotiable Instruments Act, 1881, ('act' for short), by the learned J. M. F. C. , Margao, and whose conviction and sentence have been confirmed by the learned Additional Sessions Judge, Margao.

(2.) THE parties hereto shall be referred to in the names as they appear in the cause title of the complaint.

(3.) THE undisputed facts of the case are that there were two agreements between the parties. The first was an agreement dated 30. 12. 1999, which was styled as an Agreement of Sale and which in fact was entered into between M/s. William's Beach Retreat Private Ltd. , of which the Complainant was a Managing Director and the accused along with his wife Smt. Ena Ivy Cabral. By the said agreement, the accused and his wife had agreed to purchase a hotel complex known as William Resorts for a sum of Rs. 3,30,00,000/, out of which, Rs. 25,00,000/were paid and the balance was payable as per the mode of payment indicated in Para 4 of the said agreement. However, it appears that the said balance of Rs. 57,67,873/, was not paid as contemplated by the end of January, 2001, as a result of which another agreement dated 01. 10. 2001 was entered into between the Complainant and the accused and this agreement was styled as Agreement of Settlement of Accounts. As per this agreement, seven cheques were issued by the accused to the Complainant with dates mentioned thereon and there is no dispute that the first five cheques were honoured by the accused.