https://www.taxtmi.com/caselaws?id=405270 The court set aside the conviction and sentence of the petitioner under Section 138 of the Negotiable Instrument Act following a compromise settlement between the parties. The petitioner, who had deposited a compensation amount of Rs. 1.50 lakhs in court, showed an intention to settle the matter out of court. The opposite party agreed to accept the amount, emphasizing the friendly nature of the loan transaction. In light of this settlement, the court directed the deposited amount to be remitted to the opposite party's account, discharged the petitioner's bailors, closed pending applications, and ordered the lower court records to be returned, concluding the legal proceedings. en-us Fri, 19 Feb 2021 00:00:00 +0530 Tue, 16 Mar 2021 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405270 The court set aside the conviction and sentence of the petitioner under Section 138 of the Negotiable Instrument Act following a compromise settlement between the parties. The petitioner, who had deposited a compensation amount of Rs. 1.50 lakhs in court, showed an intention to settle the matter out of court. The opposite party agreed to accept the amount, emphasizing the friendly nature of the loan transaction. In light of this settlement, the court directed the deposited amount to be remitted to the opposite party's account, discharged the petitioner's bailors, closed pending applications, and ordered the lower court records to be returned, concluding the legal proceedings. Case-Laws Indian Laws Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405270