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2021 (5) TMI 807 - HC - Indian LawsDishonor of Cheque - petitioner facing a criminal prosecution for the commission of offence punishable under Section 138 of the Negotiable Instruments Act, 1881, has come up before this Court under Section 482 of the Code of Criminal Procedure - HELD THAT:- A perusal of the petition reveals that the accused has met all the liability as detailed in the petition. The complainant had put in appearance and on 23.4.2021, made a statement on oath that he had received the full and final payment and prays for closure of the complaint/case. The said statement forms part of the record - The jurisprudence behind the N.I. Act is that the business transactions are honored. The legislative intention is not to send the people to suffer incarceration because their cheque was bounced. These proceedings are to execute the recovery of cheque amount by showing teeth of penalty loss. This Court has inherent powers under Section 482 of the Code of Criminal Procedure, further supported by Section 147 of the N.I. Act to interfere in this kind of matter where parties have paid the entire money and where the complainant does not object to clear all the proceedings. Given the entirety of the case and judicial precedents, the continuation of these proceedings will not suffice any fruitful purpose whatsoever. This is a fit case where the inherent jurisdiction of the High Court under Section 482 of the Code of Criminal Procedure read with 147 of Negotiable Instruments Act, is invoked to compound the offence and consequently to quash the proceedings - given the compounding of offences, the proceedings are quashed. Accordingly, the petitioner is acquitted of the offence under Section 138 of the Act. Petition allowed.
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