ASHWANI KUMAR Vs. STATE OF PUNJAB

JUDGEMENT

(1.) The petitioner stands convicted for offence under Section 138 of Negotiable Instruments Act (hereinafter referred to as an 'Act'). He has been sentenced to undergo rigorous imprisonment for six months and to pay a fine of Rs. 1,000/-. In default of payment of fine, the petitioner is further required to undergo rigorous imprisonment for period of two months.

(2.) The petitioner had obtained loan of Rs. 20,000/- from the complainant for his personal need. The petitioner agreed to pay the same with interest at the rate of 2% per annum. On 07.10.1998, the petitioner came to the office of the complainant and apprised him that he had sufficient funds lying in his account and cheque would be encashed when presented. The cheque, however, was returned dishonoured on 07.10.1998 with the remarks 'insufficient funds'. It is stated that the petitioner intentionally and willfully issued the cheque knowing fully well that no amount is lying in his account. Accordingly, the complainant was filed by the complaint under Section 138 of the Act which led to the conviction of the petitioner and award of sentence, which he has now challenged through the present revision petition.

(3.) When this revision petition came up for hearing before this Court on 14.10.2003, the same was admitted and sentence imposed on the petitioner was suspended. The petitioner was released on bail and has continued to remain on bail.