Legal Challenge Resolved: Cheque Bounce Case Sees Fine Upheld but Imprisonment Waived Under Section 138 NI Act

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....HC upheld the conviction under Section 138 of Negotiable Instruments Act for cheque dishonour. The court modified the sentence, eliminating imprisonment while maintaining the fine of Rs. 30,00,000. The decision was based on the petitioner's admission in a compromise deed, established presumptions under Sections 118 and 139 of the NI Act, and the petitioner's initial denial of settlement after benefiting from complaint withdrawal. The court determined that interests of justice were served by imposing a monetary penalty without imprisonment, considering the case's specific mitigating circumstances and the petitioner's conduct.....