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TMI Blog2022 (1) TMI 384X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 138 of NI Act can be set aside even at appellate stage and the accused can be acquitted on the basis of a compromise with the complainant. Even though the parties have arrived at a settlement after the Appellate Court had upheld the conviction of the petitioner, yet keeping in view the spirit of Section 147 of the NI Act, the offence under Section 138 of the Act can be compounded, as the respondent has clearly agreed that on account of precarious financial condition of the petitioner, he is ready to accept the amount of ₹ 25000/- which he has already received from the petitioner and the amount which is deposited with the Registry of this Court as full and final settlement of his claim. Therefore, this is a fit case where co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .06.2006 for an amount of ₹ 39140/- and the other one bearing No. 6876846 dated 17.06.2006 for an amount of ₹ 17400/-. Both these cheques were drawn by the petitioner in favour of the respondent on account of cost of certain jewellery items which the petitioner had purchased from the respondent. 3. During the pendency of this revision petition, the parties have entered into a compromise and a compromise agreement in this regard has been placed on record. The statements of the parties in proof of the settlement have also been recorded by the Registrar Judicial, whereby they admitted its execution as well as its contents. The relevant terms of the settlement are reproduced as under: 1. That the party No. 2nd has received &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal Nos. 1214-1215 of 2019 arising out of SLP(Crl.) Nos. 2990-2991/2019) decided on August 06, 2019), the Supreme Court observed that in appropriate cases costs can be waived. 6. In K.M. Ibrahim vs. K.P. Mohammed anr. (Criminal Appeal No. 2281 of 2009 decided on December 2, 2009), the Supreme Court observed that Section 147 of NI Act does not bar the parties from compounding an offence under Section 138 even at appellate stage of the proceedings. 7. Having regard to the aforesaid position of law, even though the parties have arrived at a settlement after the Appellate Court had upheld the conviction of the petitioner, yet keeping in view the spirit of Section 147 of the NI Act, the offence under Section 138 of the Act can be compo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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