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2019 (10) TMI 1483 - SC - Indian LawsDishonor of Cheque - acquittal of accused - failure to prove the guilt of the Accused - rebuttal of statutory presumption - Section 138 of the N.I. Act - HELD THAT:- Admittedly, the parties had entered into an Agreement of Sale dated 28.02.2012. It is also an admitted fact that the Respondent-complainant had paid ₹ 2,50,000/- as an advance/earnest money to the Appellant-Accused as per the terms of the Agreement. As pointed out by the High Court, the Appellant-Accused has not disputed his signature on the said cheque presented for clearance. Contention of the Appellant that the cheque issued in the name of the Firm, named, Synergy and Solution Incorporation was removed from his office table is not convincing nor the same is supported by any evidence - As pointed by the High Court in the statutory presumption Under Section 139 of N.I. Act, the Appellant-Accused has not satisfactorily rebutted the statutory presumption. The High Court has directed the Appellant to deposit ₹ 5,00,000/- and also costs of ₹ 20,000/- whereas the cheque amount is only ₹ 2,50,000/-. Though Section 138 of the N.I. Act enable the court to impose the higher amount than the cheque amount, however, considering the facts and circumstances of the case we are of the view that the amount of ₹ 5,00,000/- ordered to be deposited is on the higher side and the same has to be reduced to ₹ 2,80,000/- plus costs of ₹ 20,000/-. Appeal disposed off.
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