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TMI Blog2019 (8) TMI 1788X X X X Extracts X X X X X X X X Extracts X X X X ..... eable debt. Since the appellant was convicted only in the High Court, the appellant had substantial ground to raise in the criminal appeal filed before this Court. Because of the reversal of the acquittal by the High Court and the conviction recorded only by the High Court, the appellant had opportunity of negotiating for settlement in this Court after filing the appeal. In such facts and circumst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Negotiable Instruments Act, 1881 (For Short, the N.I. Act). 3. The respondent has filed the compliant under Section 138 of the N.I. Act based on two cheques:- for ₹ 7,80,000/- dated 28.05.2014 and ₹ 5,80,000/- dated 28.06.2014, alleging that when presented for collection, the cheques were returned with endorsement insufficient funds . The Trial Court vide its judgment dated 28.10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,60,000/- (qua the cheque for ₹ 7,80,000/-) and imposed fine amount of ₹ 11,60,000/- (qua the cheque for ₹ 5,80,000/-) with default clause. Being aggrieved, the appellant preferred these criminal appeals. 4. During the pendency of the matter before this Court, both parties have amicably settled the matter. The mutual settlement agreement dated 19.03.2019 came to be executed be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant has drawn our attention to the case of Damodar S. Prabhu vs. Sayed Babalal H., (2010) 5 SCC 663 and submitted that in cases arising under Section 138, N.I. Act where the parties are compromising the matter this Court has issued the guidelines as to the levy of costs depending upon stage of the compromise arrived at between the parties. The learned counsel for the appellant has submitted that i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt as per the judgment reported in (2010) 5 SCC 663 (supra). 6. In view of the settlement arrived at between the parties, the conviction of the appellant under Section 138, N.I. Act in Criminal Appeal Nos. 588 and 589 of 2018 is set aside and the appellant is acquitted of the charges under Section 138 of the N.I. Act. The statement of the learned counsel for the parties that both parties have m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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