KOTAK MAHINDRA BANK LIMITED Vs. HARMINDER SINGH

JUDGEMENT

(1.) This is an application filed under Section 378(4) CrPC for grant special leave to appeal against the judgment of acquittal dated 20.8.2014 passed by learned Judicial Magistrate Ist Class, Ludhiana, whereby the complaint filed by the applicantcomplainant under Section 138 of the Negotiable Instruments Act, 1881 (for short, "the Act") has been dismissed and accusedrespondent has been acquitted of the charge framed against him, as the applicant-complainant has failed to prove the guilt of the respondent-accused.

(2.) Briefly stated, the applicant-complainant had filed a complaint through its attorney and authorized signatory Sh. Navdip Singh against the respondent-accused under Section 138 of the Act with the allegations that the respondent-accused approached the complainant Bank at its branch office situated at SCO 120, 6th Floor, Feroze Gandhi Market, Ferozepur Road, Ludhiana and availed loan facility for an amount of Rs.4,32,359/- and entered into a loan agreement dated 30.1.2008. As per the agreement, he was required to pay the loan amount in 35 equated monthly instalments, but he defaulted in paying the instalments regularly. Accordingly, in order to discharge his liability towards the complainant-bank, the respondent issued a cheque No.834614 dated 2.3.2012 of Rs.4,25,000/- drawn on Centurion Bank of Punjab Limited, 15, San Plaza Building, Feroze Gandhi Market, Ludhiana in favour of the complainant-bank, as part payment of the amount, for which, the respondent-accused was in default at that time. The complainant-bank was also assured that the cheque can be encashed. Accordingly, the said cheque was presented for encashment, but it was dishonoured vide memo. dated 10.3.2012 with the remarks "Account Closed". The applicant served a legal notice upon the respondent on 20.3.2012, calling upon him to make the payment of the cheque amount, however, the respondent failed to make the payment, which led to filing the instant complaint.

(3.) At post notice evidence stage, Navdip Singh, authorized signatory of the applicant-bank himself stepped into the witness box as CW-1 and tendered into evidence his duly sworn affidavit Ex.CA along with attested copy of the attorney as Ex.C1, attested copy of cheque as Ex.C2, original memo. as Ex.C3, copy of notice as Ex.C4, original postal receipt as Ex.C5 and thereafter, closed his evidence.