IN THE HIGH COURT OF BOMBAY AT GOA CRIMINAL MISC. APPLICATION NO. 331 OF 2008 IN CRIMINAL REVISION APPLICATION NO. 88 OF 2008 SHRI. SANJAY JAIRAM NAIK ... Applicant Versus THE TISK USGAON URBAN CO-OP CREDIT SOCIETY LTD THROUGH RECOVERY OFFICER SIDDHARTH PRABHU AND ANR., ... Respondents Mr. Siddharth Kalshawkar, Advocate for the applicant. Mr. Sandash Volvoikar, Advocate for respondent No.1. Coram:- A. P. DESHPANDE, J. Date:- 24th December, 2008 P.C. Heard Mr. Kalshawkar for the applicant and Mr. Volvoikar, who waives service for respondent No.1. 2. The applicant has been convicted for an offence punishable under Section 138 of the Negotiable Instruments Act and is sentenced to undergo Simple Imprisonment for a period of 6 months. He has been also directed to pay compensation of Rs.50,000/- to the complainant. The Judgment and Order passed by the Judicial Magistrate, First Class, Ponda came to be challenged by filing an appeal and the Appellate Court has dismissed the appeal, confirming the order passed by the Magistrate. This revision is directed against the order of the Appellate Court. 3. The learned Counsel for the applicant-accused submits that the parties viz. applicant-accused and respondent No.1-complainant have agreed to settle the dispute and pursuant to the said settlement, the applicant-accused claims to have paid an amount of Rs.50,000/-. The learned Counsel appearing for respondent No.1 does not dispute the said statement. The learned Counsel for the applicant-accused undertakes to file on record the terms of settlement, together with an application seeking permission to compound the offence. 4. In the result, the sentence stands suspended and the applicant-accused shall be released on bail on the same terms and conditions on which he was released on bail during the trial, on executing fresh bail bonds to the satisfaction of the trial Court. Application stands disposed off. Authenticated copy of this order be issued to the applicant-accused. A. P. DESHPANDE, J. ssm.