TaxTMI 
TaxTMI 
TaxTMI 
2025 (12) TMI 1379
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.... The scope of the present judgment is confined to the adjudication of the petitioner's two pending applications seeking suspension of sentence during the pendency of the captioned revision petition. 3. Brief facts of the case are that the respondent-complainant Bank had filed a complaint under Section 138 of the NI Act, alleging that the petitioner herein had approached the Bank with an Inland Irrevocable Letter of Credit dated 11.12.2007 for an amount of Rs.95,11,500/-, purportedly drawn on Union Bank of India, Viman Nagar Branch, Pune. He had requested the Bank to discount the said Letter of Credit and to credit the proceeds to Account No. 10505582195 maintained with the respondent Bank in the name of M/s Usha Jewellers Pvt. Ltd. It was alleged that the applicant of the said Letter of Credit was M/s Sagar Jewellers, Pune. Acting upon the request of the petitioner, the respondent Bank had discounted the Letter of Credit and credited the proceeds to the appellant's account on 18.12.2007. Subsequently, Union Bank of India, Viman Nagar Branch, Pune, had informed the respondent Bank that it had neither issued the aforesaid Letter of Credit nor did it maintain any account in the nam....
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.....2024, has already undergone the substantive sentence of one year, and is presently undergoing the default sentence, which is stated to conclude on 01.01.2026. It is contended that the petitioner is about 68 years of age, is a senior citizen suffering from age-related ailments, and is financially incapable of depositing 20% of the compensation amount as directed. On merits, it is argued that the petitioner was never arrayed as an accused in the complaint filed under Section 138 read with Section 141 of the NI Act and that cognizance was initially taken only against the company, namely M/s Usha Jewellers Pvt. Ltd. It is submitted that no notice under Section 251 of Cr.P.C. was ever framed against the company and that the foundational requirements for invoking vicarious liability under Section 141 of the NI Act were not satisfied. It is further contended that the cheque in question was drawn on the account of the company, which alone was the "drawer", and that the petitioner had merely signed the cheque in his representative capacity as an authorised signatory. It is also urged that no statutory notice was served upon the petitioner in his personal capacity and, therefore, the convic....
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....nts addressed by the learned counsel appearing for the petitioner as well as the learned counsel appearing for the respondent, and has perused the material available on record. 9. The conduct of the petitioner subsequent to the filing of his appeal before the learned Sessions Court merits careful consideration. Upon preferring an appeal against his conviction, the learned Sessions Court, vide order dated 10.05.2023, suspended the sentence of the petitioner subject to strict conditions, including deposit of 25% of the compensation amount in two instalments and furnishing of requisite bail bonds. The petitioner was directed to deposit 15% of the compensation within 15 days and the remaining 10% within one month thereafter. The record reveals that despite repeated opportunities granted on 10.07.2023 and 15.07.2023, the petitioner failed to comply with the said directions. Notably, not even a partial amount was deposited. Consequently, on 24.07.2023, in view of continued non-compliance, the learned Sessions Court vacated the order of suspension of sentence and directed that intimation be sent to the learned Trial Court to proceed in accordance with law. Thereafter, on 06.09.2023, 30....
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....to whether any amount had been paid by the petitioner in compliance with the orders of the courts below, and consequently, arguments on the application seeking suspension of sentence, i.e., CRL.M.(BAIL) 1689/2024, could not be addressed. On 17.02.2025, the learned counsel for the petitioner categorically stated before this Court that the petitioner would not be able to make any payment to the respondent Bank and, therefore, at that stage, did not press the application seeking suspension of sentence. Subsequently, the petitioner sought suspension of sentence on medical grounds. However, as recorded in the order dated 11.03.2025, upon consideration of the medical status report and noting that the petitioner was receiving prescribed treatment at the jail hospital, this Court was not inclined to suspend the sentence on medical grounds, whereafter an adjournment was sought on behalf of the petitioner. Thereafter, the petitioner filed yet another application seeking suspension of sentence, being CRL.M.(BAIL) 1175/2025, which is presently under consideration. 12. The statutory mandate of Section 148 of the NI Act provides that notwithstanding anything contained in the Cr.P.C., in an ap....
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....pon deposit of the fine or a part thereof had been recognised by the Hon'ble Supreme Court. In Stanny Felix Pinto v. Jangid Builders (P) Ltd.: (2001) 2 SCC 416, the Hon'ble Supreme Court upheld the power of the appellate court to direct deposit of a portion of the fine while suspending the sentence, observing that such a condition is neither unjust nor unconscionable, particularly where the fine imposed is substantial. It was observed as under: "When a person was convicted under Section 138 of the Negotiable Instruments Act and sentenced to imprisonment and fine he moved the superior court for suspension of the sentence. The High Court while entertaining his revision granted suspension of the sentence by imposing a condition that part of the fine shall be remitted in court within a specified time. It is against the said direction that this petition has been filed. In our view the High Court has done it correctly and in the interest of justice. We feel that while suspending the sentence for the offence under Section 138 of the Negotiable Instruments Act it is advisable that the court imposes a condition that the fine part is remitted within a certain period. If the fine amo....