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2006 Supreme(Bom) 1194

A.K.SIKRI
V. K. Jain – Appellant
Versus
Sharad Jagtiani – Respondent


JUDGMENT:- The respondent herein had filed a complaint under Section 138 of the Negotiable Instruments Act. According to the averments made in this complaint he had advanced a loan of Rs.4,75,000/- to the accused (petitioner herein). For the repayment of the said loan, petitioner acting on behalf of petitioner company had issued a cheque No.786356 dated 31.7.1998 drawn on the Bank of Raj asthan Ltd., Panchsheel Park, New Delhi. This cheque was presented by the respondent for encashment.

"However, the same was returned back with memo dated 15.1.1999 of the Bank giving reasons "insufficient funds". Thereafter, notice by UPC was sent by the respondent to the petitioners and according to the respondent since payment was not made even thereafter, the aforesaid complaint was filed. As there is dispute about the service of notice, paras 6 and 7 of the complaint, touching this aspect, are reproduced below:

"6. That thereafter the complainant through his Counsel sent a legal notice dated 23.1.1999 through UPC to the accused persons calling upon them to pay the loan amount of the said cheque of Rs.4,75,000/ - (Rupees four lakhs and seventy-five thousand only) within fifteen days of the receipt
















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