This is a private complaint filed under section 200 of
Cr.P.C., against the accused No.1 and 2 for the offence
punishable under section 138 of the Negotiable Instruments
Act. The accused No.2 is Partner of accused No.1 Partnership
firm.
02.The brief facts of the complaint is as under:
The accused No.2 is Partner of accused No.1 Partnership
firm. The accused No.2 and complainant are family friends. In
order to meet financial necessities of accused No.1 and 2,
accused No.2 has availed hand loan of Rs 30,00,000/- from
complainant by executing a hand loan agreement on 10-03-
2018. Further he has executed On Demand Promissory note
on the same day and he has issued the Cheque bearing No.
101801 drawn on Axis Bank Ltd, Old Madras Road branch,
Bengaluru for a sum of Rs 30,00,000/- as a collateral
security. Further accused No.2 has agreed to repay the said
amount within 6 months. On demand of repayment after 6
months, accused has issued two other cheques for Rs
4,00,000/- and Rs.5,00,000/- towards interest on principal
amount upto 02-11-2019. But accused No.2 has postponed
the presentation of these three cheques on buying time. As
accused did not make any payment, complainant has
presented the cheque bearing No 101801 through his banker
Canara Bank, HSR lay out branch, Bengaluru on 29-04-2019.