KULDEEP SINGH Vs. HIMACHAL GRAMIN BANK & ANR.

JUDGEMENT

(1.) Looking to the nature of order, I propose to pass, it is not at all necessary to delve into the facts in detail. Suffice it to state that the complainant/respondent instituted a complaint under Section 138 of the Negotiable Instruments Act (for short 'Act') against the petitioner on the allegations that respondent bank has sanctioned a transport loan to the extent of Rs.10,30,000/- with interest on monthly rest and accused duly executed the loan documents and agreed to repay the loan installment with interest. However, the accused failed to operate the loan amount as per the documents and it became irregular in the installments and during process of regularization of the loan account, the accused had issued cheque dated 01.12.2011 amounting to Rs.2,20,000/- drawn on Himachal Gramin Bank Leda branch out of his savings account No. 87530100051925 towards part payment of the loan account with the complainant bank. The complainant presented the aforesaid cheque for encashment but the said cheque was bounced on the ground of 'Fund Insufficient'. The complaint was decided in favour of the respondent by the learned Chief Judicial Magistrate, Mandi, District Shimla, H.P. and the petitioner was sentenced to undergo simple imprisonment for a period of six months and also directed to pay compensation of Rs. 2,50,000/- to the complainant/respondent.

(2.) Aggrieved by the judgment of conviction and sentence passed by the learned trial Magistrate on 04/21.11.2015, though the petitioner preferred an appeal before the learned Additional Sessions Judge (II), Mandi, District Mandi, H.P., however, the same came to be dismissed vide judgment dated 22.06.2018, constraining the petitioner to file the instant revision petition.

(3.) Today, when the case was taken up, learned counsel for the petitioner states that the petitioner is ready and willing to pay the entire compensation amount of Rs.2,50,000/- and the same is handed over to the learned counsel for the respondent in the Open Court. Since, the entire compensation amount stands paid, therefore, the matter can be given quietus in terms of the judgments rendered by the Hon'ble Supreme Court.