TaxTMI 
TaxTMI 
2023 (6) TMI 893
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....d in a complaint under Section 138 of the Negotiable Instruments Act, filed by the respondent. It had been alleged in the complaint that the petitioner-accused approached the complainant with a desire to invest and trade in the securities. They entered into an agreement and the petitioner was allotted unique client Code No.11DS95. In order to discharge his legal liability towards the complainant under the agreement signed between both of them, the petitioner issued a cheque No.821527, dated 10.02.2010 amounting to Rs.23,00,000/- in favour of the complainant with an assurance that the cheque would be paid on its presentation before the Bank. However, on presentation before HDFC Bank, the same was dishonoured with remarks "Payment Stopped by ....
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....el for the petitioner that summoning of record as prayed for was essential for the decision of the case. He submits that the respondent-company charged commission/brokerage at the rate of 0.4 per cent from the client i.e. the petitioner on the value of transaction each time for normal mode. He submits that perusal of the deposition of CW-2 Ajit Baluni is clear enough to show that the respondent-company was charging brokerage at the rate of 0.4 per cent. He submits that for commission/brokerage for a sum of Rs.23 lacs, there must be trading of shares for Rs.46 crores, but in the present case, there was no such trading qua the shares of the petitioner. He submits that CW-2 Ajit Baluni had deposed in his cross-examination that the petitioner h....
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....spondent-company in a complaint filed under Section 138 of the Negotiable Instruments Act. After the trial, the petitioner was convicted and sentenced by the trial Court for the offence under Section 138 of the Negotiable Instruments Act for a period of one year of rigorous imprisonment with a compensation of Rs.23 lacs to the complainant. Aggrieved by the same, the petitioner filed an appeal before the learned Appellate Court, which is pending adjudication. During the pendency of the same, application under Section 391 Cr.P.C. was filed by the petitioner for producing the ledger books as prayed for. However, finding no merit in the application the learned Appellate Court declined the same after hearing both the sides. It is apparent from t....
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....ere is no gainsaying that the Appellate Court had the jurisdiction to invoke its power under Section 391 Cr.P.C. but the same cannot be invoked in a cavalier manner. Reliance is placed upon Rambhau vs State of Maharashtra 2001(2) RCR (Criminal) 721, wherein it has been held by Hon'ble Apex Court as under:- "4. Incidentally, Section 391 forms an exception to the general rule that an Appeal must be decided on the evidence which was before the Trial Court and the powers being an exception shall always have to be exercised with caution and circumspection so as to meet the ends of justice." In Dr.Rajesh Talwar and another vs C.B.I. and another 2014(1) SCC (Cri.) 493 it has been held by Hon'ble Apex Court that Criminal Cour....