The complainant has filed this complaint under
Section 200 of the Code of Criminal Procedure against the
accused, alleging that the accused has committed an
offense punishable under Section 138 of the Negotiable
Instruments Act.
02. The brief facts of the Complainant’s case are as
under;
The accused No.1 is carrying on the business of
Readymade Garments in the name of accused No.2 M/s. 7
Hills Enterprises. The accused No.1 is the proprietor of
accused No.2. One Srikanth Reddy was classmate of the
Complainant. The accused No.1 being the brother-in-law of
the said Srikanth approached the Complainant along with
Srikanth for a hand loan of Rs.6,00,000/- for his business
purpose in the first week of August 2020. The
Complainant considering his legal necessity, adjusted and
paid a sum of Rs.6,00,000/- to the accused. No.1 as hand
loan with interest at 18% p.a. for business purpose in cash
CC No. 10692 / 2022
on 20.08.2020, after receipt of said amount the accused
No.1 executed on demand promissory note and
consideration receipt on 20.08.2020 in favour of
complainant and promised to repay the borrowed amount
within one year. After completion of one year, the
Complainant demanded to repay the said loan amount,
the accused No.1 issued No.000676 dated 20.12.2021 for
Rs.6,00,000/- drawn on ICICI Bank, Hosur Road Branch.
When the complainant presented the said cheque for
encashment through his banker Shushruthi Souharda
Sahakar Bank Niyamitha, Wilson Garden Branch,
Bangalore, but the aforesaid cheque returned with
endorsement as “Fund insufficient” as per the cheque
return memo dated 22.12.2021. Thereafter, the
Complainant issued legal notice dated 07.01.2022 through
RPAD to accused No.1 and 2. The notice issued by the
complainant was received by the accused No.1 at his
residence and notice sent to accused No.2 was returned
with the reasons insufficient address. Despite the service of
CC No. 10692 / 2022
notice and lapse of the statutory period of 15 days, the
accused did not come forward to pay the cheque amount
nor issued a reply notice. Therefore, the accused has
committed an offence punishable under Section 138 of the
Negotiable Instruments Act.
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