2022 (1) TMI 384

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....llenged judgment dated 30.10.2015 passed by Additional Sessions Judge, Srinagar, whereby learned Sessions Judge has upheld the judgment dt. 12.08.2014 passed by Judicial Magistrate 1st Class (1st Additional Munsiff), Srinagar, whereby, in a complaint under Section 138 of the Negotiable Instruments Act (NI Act) filed by respondent, the petitioner has been convicted for the commission of offence und....

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....titioner had purchased from the respondent. 3. During the pendency of this revision petition, the parties have entered into a compromise and a compromise agreement in this regard has been placed on record. The statements of the parties in proof of the settlement have also been recorded by the Registrar Judicial, whereby they admitted its execution as well as its contents. The relevant terms of th....

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....n that arises for consideration is as to whether at this stage of the proceedings i.e. when the petitioner has already been convicted by the trial Magistrate and his conviction has been upheld by the Appellate Court, the offence under Section 138 of NI Act can be compounded. The issue is no longer res integra. In Damodar S. Prabhu vs. Sayed Babalal H., (2010) 5 SCC 663, the Supreme Court while lay....

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.... proceedings. 7. Having regard to the aforesaid position of law, even though the parties have arrived at a settlement after the Appellate Court had upheld the conviction of the petitioner, yet keeping in view the spirit of Section 147 of the NI Act, the offence under Section 138 of the Act can be compounded, as the respondent has clearly agreed that on account of precarious financial condition of....