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2020 (1) TMI 381 - HC - Indian LawsDishonor of cheque - insufficiency of funds - acquittal for the offence - section 138 of the Negotiable Instruments Act - existence of loan - existence of legally enforceable debt or not - whether the non-production of any licence for providing loan is fatal to the complainant's case? - whether there was existence of any legally recoverable debt and how it has to be considered? HELD THAT:- The issue is covered in the case of H. Narasimha Rao. Vs. Venkataram [2006 (10) TMI 504 - KARNATAKA HIGH COURT] where it was held that once the cheque is proved that the same was issued with reference to any debt, even if it is a time barred debt, in such an eventuality such stand is not available to the accused that there is no existence of any debt or liability. Therefore, on the said ground, the acquittal recorded by the trial court is not proper. So far as the proceedings u/s.138 of the Negotiable Instruments Act is concerned, the question of the complainant having money lending licence does not arise - acquittal of the accused on the above said ground by the trial court is also not proper and correct. The judgment of acquittal for the offence punishable under Section 138 of the Negotiable Instruments Act is hereby set aside - Appeal allowed.
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