:
This complaint is instituted by the complainant against
the accused under Section 200 of Cr.P.C. for the offence
punishable under Section 138 of Negotiable Instruments Act-
1881.
2. The Case of the complainant as per complaint
averments is as follows:
The complainant is a registered co-operative Society
registered under the provisions of the Karnataka Co-Operative
Societies Act. The accused being the member of their society
approached the complainant seeking financial assistance of
Rs.12,00,000/- for his business. After considering the request,
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the complainant has sanctioned a loan of Rs.12,00,000/- vide
loan account No.03ML00718 on 02.02.2022 and the accused
has agreed to repay the said loan amount in 24 equated
monthly installments and also agreed to pay interest. The
accused is very irregular in repayment of loan amount. To
discharge the total outstanding loan amount, the accused has
issued a cheque for Rs.4,90,000/-. The said cheque when
presented was returned dishonoured for ‘Funds insufficient’.
Then, the complainant got issued a legal notice to the accused
calling upon him to pay the amount covered under the cheque.
Despite receipt of notice, the accused has not paid the cheque
amount. Thus, the accused has committed the offence
punishable U/Sec.138 of Negotiable Instruments Act. Hence,
this complaint.