This complaint is filed against the accused under
Section.200 of Cr.P.C. for the offence punishable under
Section.138 of Negotiable Instruments Act.
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2. The gist of the complaint is as follows:
The complainant is a registered company, registered
under the provisions of the companies act represented by
its Legal authorized representative and P.A. holder by
name Sri. Ramakrishna.N. he complainant in the course
its financial services had introduced vehicle finance under
loan cum hire purchase scheme and other loans services
for the benefits of its valued customer The accused had
approached the Complainant and filed Ex.P-7/Loan
application to facilitate loan to purchase a vehicle and on
the loan application of the accused, the accused entered
into loan agreement as per Ex.P8 and the Complainant
sanctioned the loan for a sum of Rs.5,32,000/- on 25-05-
2017 as per Ex.P9/Schedule of agreement and accused
agreed to repay the said loan in terms of 48 monthly
installments and hypothecated asset/Swift Dzire vehicle
bearing Reg.No.KA-42/A-7733. Thereafter accused failed
to repay the installment amount regularly and thereby he
became chronic defaulter. Thereafter inspite of repeated
requests, the accused had issued Ex.P-2/Cheque bearing
No.973402 dated 28-02-2022 for a sum of Rs.3,04,406/-
drawn on Canara Bank, Honnaganahalli branch towards
discharge of his balance loan liability, assuring about its
honour on the presentation. That when the Complainant
has presented the said cheque for encashment as per the
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assurance of the accused through his banker ICICI bank,
Bommanahalli branch, Bangalore on 28-02-2022, but the
said cheque was dishonoured and returned unpaid for the
reason “funds insufficient” as per Ex.P3/Return slip
memo dated 09-03-2022. Hence, the Complainant got
issued Ex.P4/legal notice to the accused on 30-03-2022
by RPAD. Inspite of the issuance of notice, the accused
did not comply with the demands of notice. Hence, the
Complainant having no other go, maintained this
complaint against the accused alleging that the accused
has committed an offence punishable under Section.138
of Negotiable Instruments Act, and prays to deal the
accused as per law.