This case arises out of the private complaint filed
by the complainant against the accused for an offences
punishable under section 25 and 28 of Payment and
Settlement Systems Act R/w section 138 R/w section
141 of N.I.Act.
2. The case of the complainant’s in brief is as
under:
It is the case of the complainant is that the
complainant is a company incorporated under the
companies act and a banking company within the
meaning of the Banking Regulation Act. Further stated
that in the course of its financial services, the
complainant introduced loan for the benefit of their
customers on the application of respective customers
and upon executing requisite security documents by
them. Further the accused had approached the
complainant to sanction a loan for his urgent financial
needs. Accordingly the complainant sanctioned and
disbursed the loan amount of Rs.75,000/- towards
digital personal loan facility vide loan account No.60134
and he had opted for repayment mode, vide electronic
clearing services by signing ECS/NACH declaration by
authorizing his/her/their bank to clear the EMI from
banker. Further stated that under the contract a sum of
Rs.86,324/- was due and payable by the accused with
C.C.NO.8077/2024
respect to the same had issued ECS/NACH transaction
bearing No.CNRB7021605230007162 in favour of the
complainant. Further the complainant was presented
the same for encashment through its banker Axis Bank
Ltd., Cunningham Road Branch, Bangalore, but same
was dishonored as ‘Balance Insufficient” on
28.12.2023. Thereafter, on 05.01.2024 the complainant
got issued a demand notice to the accused through its
counsel calling upon him to pay the said amount within
15 days from the date of service of the notice. The said
notice was returned on 17.01.2024 as “Unclaimed”.