TARACHAND AGARWAL Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) The petitioner was made accused in C.P. Case No. 962 of 2006. He has been convicted and sentenced to SI for six months under Sec. 138 of the Negotiable Instruments Act, 1881 and directed to pay compensation of Rs.7,76,300.00 to the complainant.

(2.) The brief facts of the case are that the petitioner entered into Hire Purchase Agreement for purchase of a vehicle. However, he defaulted in making payments of monthly installments and the cheque for Rs.7,76,300.00drawn on Union Bank of India, Dhanbad issued by him in favour of OP No.2 was dishonoured with the remarks'insufficient fund'. OP No.2 has pleaded that a legal notice was issued on 24/5/2006 but inspite of lapse of statutory period the petitioner did not pay the aforesaid cheque amount.

(3.) By an order dtd. 6/8/2014, the trial Court has convicted the petitioner as under: