(1.) Petitioner was tried for an offence under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as 'the Act'). Vide judgment dated 7.7.2004 the trial Court convicted the petitioner for an offence under Section 138 of the Act. Vide order of the even date the trial Court sentenced the petitioner to undergo rigorous imprisonment for one year and to pay a fine of Rs.5000/- under Section 138 of the Act. The said judgment/order of conviction and sentence was upheld by the Appellate Court in appeal vide judgment dated 2.5.2005. Hence, the present petition. During the pendency of the petition, an application has been filed for permission to compound the offence. Learned counsel for the petitioner has submitted that now the petitioner has paid the cheque amount in question i.e. Rs.1,50,000/- to respondent No.1.
(2.) Learned counsel for respondent No.1 has admitted the factum of payment of Rs.1,50,000/- by the petitioner to respondent No.1 and has submitted that respondent No.1 has no objection if the offence in question is allowed to be compounded.
(3.) As per Section 147 of the Act ''every offence under the Act shall be compoundable." The Apex Court in the case of "Damodar S.Prabhu Vs. Sayed Babalal H.,2010 2 SCC 663" has framed the following guidelines :-