JEET RAM Vs. HIMACHAL GRAMIN BANK

JUDGEMENT

(1.) The instant petition has been filed by the petitioneraccused under Sec. 397 read with Sec. 401 of the Code of Criminal Procedure, against judgment dtd. 16/6/2022, passed by learned Additional District Sessions Judge, Nalagarh, District Solan, H.P. in Criminal Appeal No. 34-NL-10 of 2019, titled Jeet Ram vs. Himachal Gramin Bank, whereby the appeal preferred by the petitioner-accused Jeet Ram against the judgment of conviction dtd. 21/2/2019 and order of sentence dtd. 26/2/2019, passed by learned Additional Chief Judicial Magistrate, Nalagarh, District Solan, H.P., in Criminal Complaint No. 381/3 of 2012, titled Himachal Pramin Bank vs. Jeet Ram, was dismissed, whereby the learned Trial Court while holding the petitioner-accused guilty of having committed offence punishable under Sec. 138 of the Negotiable Instruments Act (hereinafter referred to as 'the Act'), convicted and sentenced him to undergo simple imprisonment for a period of six months and pay compensation to the tune of Rs.5,20,000.00 (rupees five lac twenty thousand) to respondent No. 1-Bank (complainant), with a prayer to set aside the impugned judgment of conviction and order of sentence on the basis of a compromise arrived at between the parties.

(2.) The facts of the case, as emerge from the record, are that complainant-Bank (respondent No. 1 herein) made a complaint before the learned Trial Court alleging therein that on 21/12/2011 the petitioner-accused obtained a loan of Rs.4,50,000.00 (rupees four lacs fifty thousand) from the complainantBank for purchasing Sonalika Tractor and Trolley. The petitioneraccused did not repay the loan amount, thus an amount of Rs.5,03,739.00 (rupees five lac three thousand seven hundred thirty nine) became due from him. Subsequently, on 25/10/2012, the petitioner-accused issued cheque, bearing No. 039645, amounting to Rs.5,00,000.00 (rupees five lacs) in favour of the complainant-Bank to repay the part of loan amount, but when the cheque was presented for encashment, it was dishonoured for 'insufficient funds', vide memorandum dtd. 26/10/2012. Thereafter, on 7/11/2012, complainant-Bank served a legal notice upon the petitioner-accused, but of no avail, Since the petitioneraccused failed to make the payment within the time stipulated in the legal notice, the complainant-Bank was compelled to initiate proceedings before the competent Court of law under Sec. 138 of the Negotiable Instruments Act (hereinafter for the sake of brevity referred to as 'the NI Act').

(3.) Today, the authorized representative of the complainant-Bank as well as the petitioner-accused are present in person and they have moved an application under Sec. 147 of the NI Act for compounding the offence. The statements of Shri Jaskaran Singh, Branch Manager, Himachal Pradesh Gramin Bank, Branch Bagheri, Tehsil Nalagarh, District Solan, H.P. (authorized representative of the complainant-Bank) and the petitioner-accused have also been separately recorded and placed on the file.