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2021 (11) TMI 294 - HC - Indian LawsDishonor of Cheque - compoundable offences or not - composition of cost of 15% of the dishonoured cheque value - offence punishable under Section 138 of the Negotiable Instruments Act - HELD THAT:- In the present case the parties have settled the matter after the judgment passed by the Appellate Court. Hence as per the guidelines framed by the Hon’ble Apex Court, the composition should be allowed by imposing cost of 15% of the dishonoured cheque value. But considering that fact that the petitioner has been taken into custody and has spent more than two months in judicial custody in the meanwhile, the imposition of cost of ₹ 1,000/- would be in the interest of justice - the said cost should be deposited in High Court Bar Association Advocate’s Welfare Fund. In course of hearing when this amount was suggested to the counsel for the petitioner he has submitted that he will deposit the said amount and file the receipt in course of the day and has in fact filed the receipt. That as the matter has been settled between the parties and the compensation amount has been paid to the complainant–Opp party No.2, in full and final settlement of the dispute, the compounding of the offence under Section -138 of the N.I.Act is allowed and the conviction of the petitioner under Section 138 of N.I. Act and the sentence to undergo simple imprisonment for one year and to pay compensation of ₹ 2,50,000/- imposed, is set aside. Application allowed.
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