INDIABULLS FINANCIAL SERVICES LTD. Vs. RAM KUMAR SHARMA

JUDGEMENT

(1.) The complainant (applicant herein) has filed the present application under Section 378(4) Cr.P.C. for grant of special leave to appeal against the judgment dated 12.03.2019 passed by the Judicial Magistrate, Ist Class, Gurugram, whereby the complaint filed by the applicant under Section 138 of the Negotiable Instruments Act, 1881 (for short 'the Act'), was dismissed and the accused was acquitted.

(2.) The aforesaid complaint was filed by the complainant, inter-alia, with the averments that the complainant had advanced a commercial vehicle loan to the respondent to the tune of Rs.8,86,513/-; that the respondent made default in payment of the EMIs of the loans and accordingly, the entire loan was recalled; that in order to settle the loan account, the respondent had issue cheque No. 737700 dated 29.12.2012 for Rs.1,92,000/- drawn on ICICI Bank Ltd. Delhi; that when presented for encashment, the said cheque was dishonoured and that despite issuance of legal notice, the respondent did not make the payment.

(3.) The learned trial Court, while dismissing the complaint found that the cheque in question was issued as a security cheque, which had been misused by the complainant. It was further found that once the matter was settled and NOC was issued by the complainant 18.3.2012 (Ex.D1), there was no occasion for the respondent to issue the cheque in question dated 29.12.2012 in discharge of settlement of the loan account.