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2021 (6) TMI 991 - HC - Indian LawsDishonor of Cheque - Requirement to deposit of the amount as provided under Section 148 of Negotiable Instruments Act - HELD THAT:- In the instant case, the trial Court has Awarded fine of ₹ 1,80,00,000/- along with simple imprisonment for two years and at the same time, has Awarded compensation of ₹ 1,50,00,000/- by invoking Section 357 of the Criminal Procedure Code - The language of Section 138 of the Act provides for the punishment with imprisonment for a term which may be extended to two years or with fine, which may extend to twice the amount of the Cheque or with both. Therefore, the word used in Section 138 is "fine" and therefore, discretion is available to the Court under Section 148 to impose condition for preferring an Appeal to deposit minimum of 20% of the "fine" or "compensation" Awarded by the trial Court. The Court is of the opinion that in a given facts of the case, where accused person is facing convictions in 9 complaints and in each of these complaints, accused has faced conviction, wherein fine is separately imposed and compensation is also separately imposed, therefore, considering the financial crunch that the accused will have to face in this trying time, the Court deems it fit to directed the accused to deposit 20% of compensation instead directing to deposit 20% of the fine imposed. The Court has also taken into consideration the submission made on behalf of the accused regarding financial inability to arrange for such huge deposits in these Appeals. Considering the overall fact situation, where the accused person is ordered to pay fine of ₹ 1,80,00,000/- in one of the 9 complaints and similar amount ordered to be paid as fine over and above this, an amount of ₹ 1,50,00,000/- Awarded as compensation under Section 357 of the Criminal Procedure Code and what has been brought on the record of this case regarding decree issued by the Commercial Court in Commercial Civil Suit No. 43 of 2919 dated 09.12.2020 holding the plaintiff Company to entitle to recover ₹ 4,50,25,000/- with accrued rate of interest at the rate of 6% from 26.10.2012 till realization of the full amount, in the facts of this case, the Court does not deem it fit to enhance the amount of deposit to more than 20% of the compensation Awarded and hence, no interference on that count. Application dismissed.
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