https://www.taxtmi.com/caselaws?id=443780 An offence under Section 138 of the Negotiable Instruments Act, 1881 may be compounded even after conviction where the parties have genuinely settled the dispute, and Section 147 operates as a special enabling provision with a non obstante clause. On the facts, the complainant-bank had no objection, the loan account was closed, and there was no impediment to accepting the compromise. The conviction and sentence were therefore quashed on compounding, and the accused was acquitted. The Court also applied the graded cost principle for late compounding while reducing the amount in light of the circumstances. en-us Tue, 26 Sep 2023 00:00:00 +0530 Tue, 03 Oct 2023 08:38:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443780 An offence under Section 138 of the Negotiable Instruments Act, 1881 may be compounded even after conviction where the parties have genuinely settled the dispute, and Section 147 operates as a special enabling provision with a non obstante clause. On the facts, the complainant-bank had no objection, the loan account was closed, and there was no impediment to accepting the compromise. The conviction and sentence were therefore quashed on compounding, and the accused was acquitted. The Court also applied the graded cost principle for late compounding while reducing the amount in light of the circumstances. Case-Laws Indian Laws Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443780