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2017 (8) TMI 573 - HC - Indian LawsConviction of offence under Section 138 of the Negotiable Instruments Act, 1881 - proof of existing debt - acquittal of charge - Held that:- The absence of any evidence to show the solvency of the respondent for him to have advanced loan to the petitioner leads to the presumption that there was no existing debt. There is no documentary evidence to show that such a huge amount of loan was advanced to the petitioner. It is difficult to accept the proposition that such amount of loan would be paid on oral agreement. Both the courts below, therefore, have erred in holding that the petitioner could not rebut the presumption as contemplated under Section 139 of Negotiable Instruments Act, 1881. For the reasons aforestated, this revision petition is allowed and the judgment of conviction by the Trial Court and its affirmation by the Appellate Court are set aside and the petitioner is acquitted of the charge.
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