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TMI Blog2021 (8) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... he parties are referred to their rank before the Trial Court. 3. Complainant filed the complaint in question under Section 200 Cr.P.C. alleging the offence punishable under Section 138 of the Negotiable Instruments Act, 1881 ("N.I. Act" for short). 4. It is the case of the complainant that it is a cooperative society registered under the provisions of Karnataka Co-operative Societies Act, 1959 and doing business of accepting money deposits and also advancing loans to its members. Accused is a member of the complainant society and he availed a loan of Rs. 20,000/- on 18.09.2001 vide account No. 1281 by furnishing sureties. He has agreed to repay the loan in monthly installments. However, he failed to repay the installments and ultimately o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s such, liable to be set aside. The reasons assigned by the Trial Court for acquitting the accused are illegal, perverse, irrelevant and contrary to the material on record. He further submitted that the learned Magistrate has failed to notice the provisions of N.I. Act which creates a statutory presumption in favour of the complainant and the accused has failed to rebut the statutory presumption. Mere issuance of cheque itself is sufficient to prove the fact that debt claim is enforceable and when accused has not denied his signature on the cheque and he has not made any efforts to examine any witnesses in support of the defence taken by him, the Trial Court has erred in accepting his defence and dismissing the complaint and prays to allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mplainant has not produced the documents which were allegedly executed by the accused at the time of availing the alleged loan dated 18.09.2001. As admitted by PW. 1, he has not initiated any arbitration proceedings and availed any award for recovery of the amount under the alleged loan transaction. 10. As held by the Hon'ble Supreme Court in the case of Rangappa Vs. Shri Mohan reported in 2010 (5) KCCR 4063 and in the matter of M/s. Meters and Instruments Private Limited Vs. Kanchan Mehta in Criminal Appeal Nos. 1731-1733 of 2017, the presumption under Section 139 of N.I. Act is a legal presumption i.e., presumption of law and it is a rebuttable presumption. When the accused rebuts the presumption, the onus shifts back on the complain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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