TaxTMI 
TaxTMI 
2021 (1) TMI 1182
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....n default of payment of compensation, the accused is sentenced to undergo simple imprisonment for three months; which came to be confirmed in Criminal Appeal No.29/2013. 2. The brief facts, which are necessary for disposal of the Revision Petition are as under: The accused had a business transaction with the complainant Bank and towards repayment of loan with accrued interest, he issued a cheque bearing No.174338 dated 13.11.2007 in a sum of Rs. 5,26,295/-. The said cheque on presentation came to be dishonoured with an endorsement 'funds insufficient'. Thereafter, the complainant issued a statutory notice calling upon the accused to make good the payment covered under the cheque within fifteen days from the date of receipt of ....
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....fore the Principal Sessions Judge, Udupi. The learned Principal Sessions Judge, Udupi, after securing the records and hearing the parties, re- appreciated the entire materials on record and concurred the judgment passed by the learned Magistrate by dismissing the appeal. It is those judgments, which are the subject matter of this Revision Petition. 6. Sri Gururaj, learned counsel representing Sri Vighneshwar S. Shastri, for the Revision Petitioner vehemently contended that both the courts have grossly erred in convicting the accused in not properly appreciating the materials on record and prayed for allowing the Revision Petition. He further argued that the business transaction was with one Tharanath Shetty and the accused stood as a gua....
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....d the signature found in the cheque are not in dispute. It is found from the records that the cheque on presentation returned with an endorsement 'funds insufficient' and statutory legal notice marked at Ex.P3 was duly served on the accused and there was no reply on behalf of the accused. The complainant-Bank produced the loan application at Ex.P8 and On demand promissory note Ex.P9 and that there is no dispute about the execution of on demand promissory note as well as the loan application. 10. It is the case of the accused that he stood as a guarantor to the loan obtained by Sri Tharanath Shetty who is his business partner who duped not only the Bank but also the accused. It is an admitted fact that the bank proceeded against T....
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....uestion. 11. In other words, a mere denial that the cheque is not issued for legally recoverable debt would not be sufficient enough to hold that there was no legally recoverable debt on record. The materials on record has been properly considered by the learned Magistrate which was re-appreciated by the learned Principal District and Sessions Judge in the first appeal. In such circumstances, even after perusing the records and in the light of the arguments advanced on behalf of the Revision Petitioner, this court does not find any patent defect on record nor there is any error of jurisdiction or law which would entitle the accused to seek for interference by this court in this Revision Petition. Accordingly, point no.1 is answered. R....
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....is court. In the considered opinion of this court, if time is granted till the end of June, 2021 to pay the balance amount, would not only facilitate the accused to comply the order but also would meet the ends of justice. It is also made clear that if the accused fails to make use of this concession shown by this court, the accused is sentenced to undergo simple imprisonment for a period of three months by restoring the order of the learned Magistrate. Accordingly, Point No.2 is answered and following order is passed: ORDER The Revision Petition is allowed in part while maintaining the conviction for the offence punishable under Section 138 of the Negotiable Instruments Act, the Order passed by the learned Magistrate, which is confir....