SANDEEP JAIN Vs. STATE OF HARYANA AND OTHERS

JUDGEMENT

(1.) This application has been filed under Section 378(4) Cr.P.C., 1973 read with Section 372 Cr.P.C., 1973 for grant of leave to appeal against order of acquittal passed by Judicial Magistrate 1st Class, Gurgaon by applicant-Sandeep Jain.

(2.) Briefly stated facts of the case are that applicant-Sandeep Jain had got filed a complaint under Section 138 read with section 142 of Negotiable Instruments Act, 1881 against the accused M/s Gold Palace, 5L/43, NIT Faridabad through its proprietor Rakesh Khatri and Rakesh Khatri proprietor of said concern on the allegations that the complainant along with his wife Mrs. Vanita Jain has been running a jewellery shop under the name and style of M/s Anagh Jewellers Private Limited; that Rakesh Khatri proprietor of M/s Gold Palace, Faridabad was having business dealings with the complainant and his wife having friendly relations with them. On 12.10.2010 Rakesh Khatri come to their shop and purchased some ornaments on debit basis. He further represented that he was facing financial crises and requested for grant of friendly loan. The complainant and his wife accordingly agreed to grant friendly loan to the tune of Rs. 63 lacs to Rakesh Khatri, which included cost of jewellery items so purchased by the accused. Such accused had given assurance to complainant and his wife that he would return the entire amount within a period of six months. As per case of the complainant out of aforesaid loan amount, an amount of Rs. 24 lacs had been given to the accused by Mr. Mohit Jain, a friend of the complainant. When the accused did not return the loan amount within stipulated period, the complainant approached him asking him to return the amount and to make payment of ornaments so purchased by him. That for discharge of his financial liability the accused had issued cheques, details of which are as follows:- <FRM>JUDGEMENT_186_LAWS(P&H)7_2017_1.html</FRM>

(3.) The complainant presented cheque bearing No. 605511 dated 23.08.2011 for the sum of Rs. 1 lac through his banker IDBI Bank Limited, Gurgaon but the cheque was received back uncashed vide memo dated 25.08.2011 with the remarks "Funds Insufficient". The complainant served legal notice dated 13.09.2011 upon the accused informing him regarding dis-honoring of cheque and asking him to repay the cheque amount within stipulated period from date of receipt of legal notice. However, accused failed to pay the amount within stipulated time despite service of legal notice. Hence the complainant filed the complaint in question.