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2022 (1) TMI 384 - JAMMU & KASHMIR HIGH COURTDishonor of Cheque - compounding of offences - Acquittal of the accused - whether at this stage of the proceedings i.e. when the petitioner has already been convicted by the trial Magistrate and his conviction has been upheld by the Appellate Court, the offence under Section 138 of NI Act can be compounded? - HELD THAT:- The issue is no longer res integra. In DAMODAR S. PRABHU VERSUS SAYED BABALAL H. [2010 (5) TMI 380 - SUPREME COURT], the Supreme Court while laying down guidelines as to the levy of costs depending upon stage of the compromise arrived at between the parties, held that conviction of an accused in proceedings under Section 138 of NI Act can be set aside even at appellate stage and the accused can be acquitted on the basis of a compromise with the complainant. Even though the parties have arrived at a settlement after the Appellate Court had upheld the conviction of the petitioner, yet keeping in view the spirit of Section 147 of the NI Act, the offence under Section 138 of the Act can be compounded, as the respondent has clearly agreed that on account of precarious financial condition of the petitioner, he is ready to accept the amount of ₹ 25000/- which he has already received from the petitioner and the amount which is deposited with the Registry of this Court as full and final settlement of his claim. Therefore, this is a fit case where costs are required to be waived while compounding the offence. The settlement arrived at between the parties is accepted and the parties are permitted to compound the offence. The judgments of both the courts below are set aside and the petitioner is acquitted of the charges - Petition allowed.
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