KAREKAR FINANCE PVT LTD Vs. M N BASHYAM

JUDGEMENT

(1.) This is Complainant's appeal against the acquittal of the accused under Section 138 of the Negotiable Instruments Act, 1881 (Act, for short) by Order dated 28-4-2005 of the learned J. M. F. C. , Mapusa.

(2.) The Complainant is a Finance Company and the accused is an architect by profession. The complaint was filed with the allegation that on 7-8-1997 the accused was given a loan of Rs. 1,50,000/- repayable with interest at the rate of 24% per year on or before 7-8-1999 and in repayment of the said loan the accused had issued a cheque dated 25-4-2001 for Rs. 4,17,274/- and the said cheque was presented on 8-9-2001 for encashment but was returned dishonoured by intimation dated 10-9-2001 from Centurion Bank Ltd. , Panaji, whereupon the complainant sent the statutory notice dated 17-9-2001 which the accused received on 19-9-2001 but did not comply with the same. The complaint was filed on 12-10-2001.

(3.) The case of the accused, as can be seen from his statement recorded under Section 313 of the Code of Criminal Procedure, 1973, is that the said cheque was issued by him in blank as collateral security. It was also the plea of the accused that the accused does not owe to the Complainant the amount represented by the said cheque.