Accused : Sri.Anil Jain, S/o Ajith Prasad, Age 65 years, Flat No.A.1401, ETA The Gardens, Magadi Road, Bengaluru 560 023. { By Sri.Vipin Kumar Jain Advocate } 2 C.C.5266/2018 Offence complained : U/S. 138 of N.I. Act., Plea of accused : Pleaded not guilty Final Order : Accused is Convicted Date of Order : 09052023 JUDGMENT The present complaint is filed under section 2(d) read with section 200 of code of criminal procedure against the accused seeking to punish him for the offence punishable under section 138 of the Negotiable Instruments Act ( in short referred as "N.I. Act"). 02. The factual matrix of the complaint is summarized as under; It is stated that, the complainant and accused are known to each other for the past ten years. In order to improve his business and also to meet out his legal necessities, the accused has borrowed Rs.10,00,000/ 3 C.C.5266/2018 from the complainant on various dates in the month of January 2015 and has executed on demand promissory notes and had issued three security cheques agreeing to repay the same within two years. It is further averred that, after the expiry of agreed period, when the complainant has demanded for payment of hand loan, the accused has instructed him to present cheque bearing No.385290 dated 31.08.2017 for a sum of Rs.02,00,000/ drawn on IDBI Bank, Gandhi Nagar Branch, Bengaluru . Accordingly, on 28.11.2017, the complainant has presented the aforesaid cheque for encashment through his banker, but it returned unpaid with banker's endorsement dated 29.11.2017 as "Account Closed". On 28.12.2017, demand notice was issued to the accused by RPAD. The demand notice issued by RPAD has been duly served on accused and in spite of service of legal notice, the accused neither has paid the cheque amount nor has given any reply. Accordingly, it is sought to punish the accused for the offence punishable under section 138 of NI Act and direct him to pay the cheque amount of 4 C.C.5266/2018 Rs.2,00,000/ with interest at the rate of 24% per annum along with penalty which may extent to twice of the amount of the aforesaid cheques, so also has sought to award the compensation as per section 357 of Code of Criminal Procedure. 03. On presentation of complaint, this court has verified the averments of complaint along with records and thereby had taken cognizance for the offence punishable under section 138 of NI Act. Thereby, as per the verdict of the Hon'ble Apex court reported in AIR 2014 SC 1983 in the case of Indian Bank Association and others V/s Union of India and others, the sworn statement of the complainant has been recorded as PW.1 and got exhibited twenty one documents at Ex.P.01 to 21. Having been made out the primafacie case, the complaint has been registered in Register No. III and issued process against the accused. 04. In response to the summons, the accused put his appearance before the court through his counsel and filed 5 C.C.5266/2018 bail application under section 436 of Code of Criminal Procedure, the accused has been enlarged on bail. The substance of accusation has been recorded and read over to the accused, he pleaded not guilty and intends to put forth his defense. On filing application by the complainant under section 145(1) of NI Act, sworn statement of the complainant has been treated as examination in chief. Similarly, on filing application under section 145(2) o