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2021 (12) TMI 894 - HC - Indian LawsDishonor of Cheque - insufficiency of funds - compounding of offences - section 147 of NI Act - HELD THAT:- Since entire amount of compensation awarded by the court below has been paid or agreed to be paid by the petitioner to the complainant, this Court sees no impediment in accepting the prayer made on behalf of the petitioner for compounding of offence while exercising power under Section 147 of the Act as well as in terms of guidelines issued by the Hon'ble Apex Court in Damodar S. Prabhu V. Sayed Babalal H. [2010 (5) TMI 380 - SUPREME COURT], wherein it has been categorically held that court, while exercising power under Section 147 of the Act, can proceed to compound the offence even after recording of conviction by the courts below. Present matter is ordered to be compounded and impugned judgments of conviction and sentence dated 19.2.2014 and 16/30.12.2011, passed by the courts below are quashed and set-aside and the petitioner-accused is acquitted of the charge framed against him under Section 138 of the Act - Petition disposed off.
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