KHEM CHAND Vs. BHAGAT URBAN CO-OPERATIVE BANK

JUDGEMENT

(1.) The instant petition is directed against the judgment of the learned Additional Sessions Judge-II, Solan, District Solan, H.P., whereby he affirmed the judgment of the learned Judicial Magistrate 1st Class Court No.2, Solan, District Solan, H.P. of 06/10.3.2017, pronounced in Criminal complaint No. 14/3 of 2015, convicting and sentencing the accused/petitioner, for, his committing offences punishable under Section 138 of the Negotiable Instruments Act.

(2.) During the pendency of the revision petition before this Court, the authorized official of the respondent/complainant bank, has, in his statement on oath duly reduced into writing and signatured by him, made a disclosure that he has instructions that in case this Court orders for a sum of Rs. 73, 529/-/- lying deposited before the learned Magistrate concerned, being ordered to be released in favour of the complainant/respondent bank, thereupon he holds instructions, of, this Court proceeding to accept the instant criminal revision. Moreover, he has also stated on oath, that thereupon the revisionist/accused be acquitted of the charge.

(3.) Consequently, accepting the statement on oath of the authorized official of the respondent/complainant bank, the offence constituted by the dishonour of Negotiable Instrument, is ordered to be compounded. In sequel, the revision petition is accepted and the impugned judgments are quashed and set-aside. The petitioner/accused stands acquitted of the charge. As stated by the learned counsel for the petitioner/accused, in his statement, without oath, duly reduced into writing and signatured by him, qua a sum of Rs. 73, 529/-/-, lying deposited before the learned trial Court, being ordered by the learned trial Court to be released in favour of the complainant/respondent bank, thereupon the learned trial Court shall order for its release vis-'- vis the complainant/respondent bank, by directing it being remitting in its bank account. However, given the petitioner herein belatedly concerting to seek composition of the offence constituted under Section 138 of the Negotiable Instruments Act, necessitates, fastening/levying by this Court, upon, the petitioner/accused, a penalty quantified at 15% of the amount comprised in the dishonoured negotiable instrument. Accordingly, this order shall take effect only on the petitioner/ accused, depositing, within eight weeks from today 15% of the cheque amount before the State Legal Services Authority.