R. CHENNAKESAVA RAO Vs. P. LAXMI NARASAIAH

JUDGEMENT

(1.) The complainant in C.C.No. 71 of 2014 on the file of the II Special Magistrate at Hastinapuram, R.R. District, being aggrieved by calendar and judgment dated 31.01.2015 preferred this appeal challenging the acquittal of the respondent/accused, finding him not guilty for the offence punishable under Sec. 138 of Negotiable Instruments Act (for short "the N.I. Act").

(2.) The appellant herein is the complainant and the respondent herein is the accused in C.C.No. 71 of 2014 respectively and they will hereinafter be referred as 'complainant' and 'accused' for the sake of convenience.

(3.) The complainant R. Chennakesava Rao allegedly lent an amount of Rs.1,00,000.00 on 02.05.2011 for the personal necessities and the respondent/accused promised to repay the same with interest at 24 % p.a. Again the accused approached the complainant on 07.09.2011 and requested for advance of 11,00,000.00. Accordingly, the complainant paid an amount of Rs.1.00,000.00 on 07.09.2011. Thus, the complaint lent an amount of Rs.2,00,000.00 on the promise made by the accused to repay the same at the earliest with interest thereon. Despite several reminders, the accused did not discharge the debt, but issued two cheques i.e. cheque bearing No. 478401 dated 05.11.2013 for Rs.1,00,000.00 drawn on ICICI, Dilsukhnagar Branch and cheque bearing No. 747639 dated 15.11.2013 for Rs.1,00,000.00 drawn on HDFC Bank, Saleem Nagar, Malakpet branch towards discharge of debt due to the complainant. The complainant presented those two cheques with the collecting bank i.e. L.B. Nagar Branch for collection of amount covered by cheques on 13.12.2013, but those two cheques were dishonoured with a return memo dated 14.12.2013 with endorsement "funds insufficient". Thereafter, the complainant got issued a legal notice dated 19.12.2013 to the accused demanding him to pay the amount covered by cheques by registered post with acknowledgement due, but the accused neither discharged the debt nor issued any reply to the notice and the amount covered by the cheques remained unpaid. Hence, he filed complaint under' Sec. 200 of Crimial P.C. for the offence punishable under Sec. 138 of the N.I.Act.