VINOD K SHAH Vs. KIRANRAJ M JAIN

JUDGEMENT

(1.) Heard the Advocate for the applicant and the Advocate appearing for the respondent. The Applicant is the complainant in a complaint under section 138 of the Negotiable Instruments act, 1881. By the impugned Judgment and Order, the first respondent has been acquitted of the offence under section 138 of the said Act.

(2.) The case of the applicant is that he is a share-broker and the first respondent (accused) approached him for purchasing shares of various companies. The first respondent was regularly purchasing shares from the applicant. There was an account of the first respondent maintained by the applicant. As per the instructions of the first respondent, the applicant used to purchase shares of various companies. After receiving the share certificates, the first respondent used to pay price of the shares to the applicant. According to the case of the applicant, in the year 1994 he purchased shares of various companies for the first respondent by spending from his own funds. There were two cheques in the sum of Rs. 34,700/- and Rs. 30,000/- issued by the first respondent on 24th February, 1995 and 21st February, 1995 towards the price of the shares. The said cheques were dishonoured. On the basis of dishonour of the said cheques, the present complaint has been filed.

(3.) After having heard the Advocates appearing for the parties, I find that no case is made out for grant of leave to prefer Appeal as the learned trial Judge was justified in acquitting the first respondent of the offence punishable under section 138 of the negotiable Instruments Act, 1881.