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2022 (11) TMI 559 - HC - Indian LawsDishonor of Cheque - compounding of offences - amicable settlement of the matter - Section 138 of the Negotiable Instruments Act, 1881 - HELD THAT:- The enquiry made with the parties who are physically present convinces the Court that both the parties out of their free consent and volition and in their best interest have settled the matter amicably which is further corroborated by the submissions made by their learned counsels - on the terms of the said joint application, the parties be permitted to compound the offence under Section 147 of the N.I. Act, however, subject to the payment of the graded cost by the petitioner/accused. Section 147 of the N.I. Act has made every offence punishable under the N.I. Act as compoundable. As such, there is no bar for the parties in the proceeding to compound the offence - Admittedly, in the instant case, the cheque amount is for a sum of Rs. 7,00,000/-, as such, the graded cost would be Rs. 1,05,000/-. The parties are permitted to compound the offence under Section 147 of the N.I. Act. The matter is settled as per the terms mentioned in the joint application and also the independent affidavits filed by both side and the petitioner herein who was accused in the Trial Court in C.C. No. 14347/2016 is acquitted of the offence punishable under Section 138 of the N.I. Act - the present revision petition stands disposed of.
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