This case is registered against the accused for the offence
punishable under Section 138 of Negotiable Instruments Act (in
brief N.I.Act for brevity).
2. The substance of the case of complainant :
It is the case of the complainant that the accused borrowed
loan of Rs.10,00,000/- on 01.12.2010 by executing relevant
documents. Further he borrowed loan of Rs.4,00,000/- on
14.03.2012 by executing relevant documents by agreeing to repay
the same in 120 installments. But accused became defaulter. The
complainant initiated arbitration proceedings and got award. In
execution petition a date was fixed for auction of mortgaged
property. Then accused gave two cheques to the complainant by
undertaking that he will clear entire loan within 23.03.2023 and if
he fails to clear the loan, the complainant is at liberty to present
the said cheques for encashment. He also issued a letter in this
regard. Then complainant stopped the auction proceedings. The
accused failed to clear his loan within stipulated period. The
complainant issued notice about the presentation of cheque for
encashment. The said notice was duly served on accused. But he
did not reply to the said notice.