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TMI Blog2019 (6) TMI 173X X X X Extracts X X X X X X X X Extracts X X X X ..... no. 1-State. Mr. Suneet Bhardwaj, Advocate for respondent No. 2. O R D E R Impugned order of 26th April, 2019 rejects petitioner's application for waiver of the condition of deposit of 20% of the total fine amount imposed vide order 31st January, 2019. The Appellate Court in the impugned order has taken note of Section 148 of the Negotiable Instruments Act, 1881 and has referred to the decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 148 of NI Act have been duly considered. It is submitted that it is not mandatory to order deposit of fine/compensation. It is pointed out that pre-condition to deposit 20% fine compensation amount cannot entail cancellation of petitioner's bail. It is submitted that Section 18 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 mandates t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the precondition of deposit of 20% of the fine amount deserves to be set aside. On the contrary, respondent's counsel supports the impugned order. Upon hearing and on perusal of impugned order, material on record and the decisions cited, I find that Section 148 of the Negotiable Instruments Act is less stringent than Section 18 of SARFAESI Act. On merits, nothing has been urged on behalf of pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act mandates that in a summary trial, sentence not exceeding one year and fine amount exceeding Rs.5000/- can be imposed. Petitioner at no point of time had made any grievance that the trial in this case was not conducted in a summary way. So, there is no basis to urge that fine of more than Rs.5000/- cannot be imposed. Imposition of deposit of 20% of fine amount in cases under the Negotiable In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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