TaxTMI 
TaxTMI 
2023 (11) TMI 744
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.... The parties duly represented by their respective Learned Counsel submit that the matter was compromised between the parties on 31-03-2023, towards which Deed of Compromise has been submitted before this Court. 2. Learned Senior Counsel for the Petitioners submits that under Section 147 of the NI Act all offences therein are compoundable. That, the compounding of the offences, can be at any stage of the proceedings. To buttress his submissions, he has placed reliance on M. Rangaswamaiah vs. R. Shettappa 2002 CRI. L. J. 4792. Accordingly, the Compromise Deed, dated 31-03-2023, be accepted and the Petitioners be acquitted of the offence under Section 138 of the NI Act that they have been convicted under. 3. Learned Counsel for the Respo....
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.... the fine so paid, Rs. 20,00,000/- (Rupees twenty lakhs) only, each, i.e., Rs. 40,00,000/- (Rupees forty lakhs) only, would be paid as compensation under Section 357 of the Code of Criminal Procedure, 1973 (for short, the "Cr.P.C.) to the Respondent. Default clause of imprisonment was also imposed. (i) Aggrieved, by the Judgment and Order on Sentence, dated 29-03-2019, an Appeal was preferred before the Court of Learned Sessions Judge, East Sikkim, at Gangtok, on 23-04-2019, being Criminal Appeal No.04 of 2019. The Learned Appellate Court inter alia held that there was no need to interfere with the Judgment of the Learned Trial Court and dismissed the Appeal. Hence, the instant Revision Petition. 5. Having heard Learned Counsel for th....
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....te the efficacy of bank operations and ensures credibility in transacting business through cheques. In such matters, therefore, normally compounding of offences should not be denied. Presumably, Parliament also realised this aspect and inserted Section 147 by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 (55 of 2002)." .................................................................................. 15. The compounding of the offence at later stages of litigation in cheque bouncing cases has also been held to be permissible in a recent decision of this Court, reported as K.M. Ibrahim v. K.P. Mohammed [(2010) 1 SCC 798 : (2010) 1 SCC (Cri) 921 : (2009) 14 Scale 262] wherein Kabir, J. has not....
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.... the settlement was arrived at between the parties without duress on either party from any quarter, the compromise Petition is accepted and taken on record. The compounding of the offence is allowed. The order of conviction (supra) handed out to the Petitioners is set aside. The Petitioners are consequently acquitted of the offence under Section 138 of the NI Act. 7. The records reveal that I.A. No.01 of 2019 had been filed by the Petitioners/Accused persons seeking suspension of the impugned Order, dated 28-09-2019, in Criminal Revision Case No. 01 of 2019, passed by the Learned Sessions Judge, Special Division ─ I, at Gangtok. The impugned Order of stay was subject to deposit of Rs. 5,00,000/- (Rupees five lakhs) only, by the Pet....