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2007 (12) TMI 444 - SUPREME COURT
Whether an offence punishable under Section 138 of the Act which is a special law can be compounded?
Held that:- Taking into consideration even the provision of Section 147 and the primary object underlying Section 138, in our judgment, there is no reason to refuse compromise between the parties. We, therefore, dispose of the appeal on the basis of the settlement arrived at between the appellant and the respondent.
For the foregoing reasons the appeal deserves to be allowed and is accordingly allowed by holding that since the matter has been compromised between the parties and the amount of ₹ 45,000/- has been paid by the appellant towards full and final settlement to the respondent-bank towards its dues, the appellant is entitled to acquittal.