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2023 (11) TMI 249 - HC - Indian LawsDishonour of settlement - amicable settlement between the parties - compromise also arrived at - HELD THAT:- Since the parties are entering into compromise at the stage of revision, therefore, law laid down by the apex Court in the case of DAMODAR S. PRABHU VERSUS SAYED BABALAL H. [2010 (5) TMI 380 - SUPREME COURT] will be applicable in this case where it was held that In view of the legislative vacuum, we see no hurdle to the endorsement of some suggestions which have been designed to discourage litigants from unduly delaying the composition of the offence in cases involving Section 138 of the Act. In view of the aforesaid judgement, and considering the fact that the parties have amicably settled their dispute and have entered into compromise before this Court in the revision and decided to avoid further litigation, hence, the applicant is liable to pay 2% of the cheque amount i.e. Rs. 36,000/-by way of cost to be deposited with the "State Legal Services Authority" Indore - Subject to payment of cost at the rate of 2% of the cheque amount with the "State Legal Services Authority" Indore, within a period of 15 days from today, the applicant be released from the jail and if not in jail, the applicant shall be treated as acquitted from the charges under Section 138 of N.I. Act on the basis of compromise. Revision disposed off.
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