TaxTMI 
TaxTMI 
2021 (1) TMI 1182
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.... 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 notice. It is further contended that even tho....
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....ed 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 guarantor for the loan borrowed by Sri Tharanath Shetty ....
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....he 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 Tharanath Shetty also by filing a criminal case and some amount was recovered....
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....r 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. REGARDING POINT NO.2: 12. The learned Magistrate ordered three months simple imp....