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2018 (8) TMI 1293 - HC - Indian LawsDishonor of cheque due to insufficiency of funds - restoration of conviction passed by Learned Magistrate - it is the case of appellant that First Appellate Court, without considering the facts and circumstances, under wrong perception has reversed the conviction and acquitted the accused - Held that:- It is seen from the records that only after the receipt of the letter Ex.D.1 issued by the accused, the complainant presented the cheque which was issued at the time of borrowing the loan as security purpose. Therefore, it is evident that the alleged cheque was not issued for any legal enforceable debt by the accused. That apart, even according to the complainant a sum of ₹ 2,00,000/- was borrowed by the accused for the interest at the rate of 24% per month. Hence, if the repayment amount is calculated with interest it comes to ₹ 6,00,000/-. But the accused issued cheque only for a sum of ₹ 2,00,000/-. As such the complainant has cleverly issued statutory notice as the cheque was issued only for part of the amount payable by the accused. Therefore, it has to be presumed that the cheque was not at all issued by the accused for any legal enforceable debt. This Court is of the considered opinion that the complainant did not fulfil the requirements as envisaged under Section 138 of Negotiable Instruments Act and it is clear that the complainant has failed to prove his case beyond any reasonable doubts - the lower appellate Court rightly acquitted the accused and reversed the judgment passed by the learned Magistrate, which does not warrant any interference from this Court. Appeal dismissed.
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