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2022 (11) TMI 849 - HC - Indian LawsDishonor of Cheque - amicable settlement of the matter - compounding of offences - applicability of section 138 and 147 of NI Act - HELD THAT:- Section 147 of the N.I. Act has made every offence punishable under the N.I. Act as compoundable. As such, there is no bar for the parties in the proceeding to compound the offence - Admittedly, in the instant case, the cheque amount is for a sum of Rs. 2,50,000/-, as such, the graded cost would be Rs. 37,500/-. The parties are permitted to compound the offence under Section 147 of the N.I. Act. The matter is settled as per the terms mentioned in the joint application filed by both side and the petitioner herein who was accused in the Trial Court is acquitted of the offence punishable under Section 138 of the N.I. Act - the present revision petition stands disposed of.
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