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TMI Blog2011 (11) TMI 854X X X X Extracts X X X X X X X X Extracts X X X X ..... e Mr. Gajendra P. Baghel and learned APP Mr. L.R. Pujari waive service of Rule on behalf of the respondent Nos.1 and 2 respectively. 2. The applicant-accused was convicted for the offences punishable under Section 138 of the Negotiable Instruments Act by the judgment and order dated 16-5-2010 passed in Criminal Case No.1787 of 2010 by the learned Metropolitan Magistrate (NI Act), Court No.5, Ah ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... settled between present applicant original accused and the respondent No.1 original complainant. It is further submitted that present applicant is ready to pay a cheque amount of ₹ 55,000/=. As per the settlement terms, the present applicant has paid today ₹ 30,000/= in cash and receipt is also issued by respondent No.2 complainant and further, ₹ 25,000/= has been depos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anking operation and credibility in transacting business on negotiable instruments. The provision is intended to prevent dishonesty on the party of the drawer of negotiable instruments in issuing cheques without sufficient funds or with a view to inducing the payee or holder in due course to act upon it. It thus seeks to promote the efficacy of banking operations and ensures credibility in transac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s be permitted to compound the offence. 9. In the result, the Revision Application is allowed. The judgment and order of conviction and sentence dated 16.05.2011 passed in Criminal Case No.1787 of 2010 by the learned Metropolitan Magistrate (NI Act), Court No.5, Ahmedabad, as also the judgment and order dated 09.08.2011 passed in Criminal Appeal No.2685 of 2011 by the learned Additional Session ..... X X X X Extracts X X X X X X X X Extracts X X X X
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