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2018 (6) TMI 1366 - HC - Indian LawsAcquittal of Offence - Section 138 read with 142 of the Negotiable Instruments Act - The case of the appellant is that the accused had financial transaction with the appellant and in the said transaction, he had borrowed ₹ 9 Lakhs on 10.12.2003 after executing a promissory note, and to discharge the said liability, the respondent/accused issued a cheque dated 04.08.2004 for ₹ 10,04,850/- - Held that:- This Court is not able to accept the contention of the accused, since he has not examined any one of the Panchayatar to prove the above said alleged Panchayat took place. In view of the discussion made above this Court has no hesitation to hold that the subject cheque was issued by the accused/Respondent for the legally enforceable debt and the accused has not rebutted the presumption available to the complaint under Section 139 of Negotiable Instruments Act. The finding of the Learned Magistrate that complainant has not produced proper accounts to prove the existing liability as on 2004 is immaterial. The learned Magistrate ought to have seen that whether the subject cheque in question was issued by the accused, if so, the same was issued for the legally enforceable debt - the accused has admitted the issuance of cheque and the same was also held to be issued for the legally enforceable debt. Appeal allowed - decided in favor of appellant.
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