MADHUKAR SHANKAR KOSHTI Vs. PRAVIN MARUTI ALDAR

JUDGEMENT

(1.) AN application for leave to appeal under Section 78(4) is preferred by the Applicant against the order dated 16.7.2008 passed by the 4th Judicial Magistrate, First Class, Sangli.

(2.) THE applicant has contended that the respondent no.1had borrowed money time to time from the applicant, totaling sum of Rs.2,90,000/- The respondent No.1 issued the cheque of Rs.2,90,000/- towards repayment of the loan amount on 8th October, 2005. However, the said cheque, when presented by the applicant in his Bank, was returned back with the remark 'fund insufficient'. The applicant thereafter issued notice of demand under Section 138 of Negotiable Instruments Act. However, the said notice returned with remark 'not claimed'. Thus, after following due procedure, the complainant, launched prosecution against the Respondent No.1 under Section 138 of N.I. Act.

(3.) LEARNED counsel appearing for the accused/ Respondent No.1, while opposing the application, has submitted that the accused has rebutted the said presumption by putting his defence that he had issued the cheque to purchase the plot from the complainant. He has relied on Krishna Janardhan Bhat Vs. Dattatraya G. Hegde, reported in (2008) 4 Supreme Court Cases 54.