IMPORTANT POINT
[The judgment establishes that cheques issued in discharge of a liability are enforceable under Section 138 of the Negotiable Instruments Act, and the proper service of statutory notice is crucial for the prosecution of dishonoured cheque cases.]

JUDGMENT

1. The Revision Applicant has challenged the judgment and order dated 18th March 2017 passed by learned Metropolitan Magistrate, 6th Court, Mazgaon at Sewri, Mumbai in C.C. No. 1091/SS/2015 and judgment and order dated 6th December 2018 passed by learned Additional Sessions Judge, Greater Bombay in Criminal Appeal No. 249 of 2017.

2. The Revision Applicant is convicted for the offence under Section 138 of the Negotiable Instruments Act (hereinafter referred to as N.I. Act.). He was sentenced to pay fine of Rs. 2,83,32,500/- along with 9% simple interest from the date of complaint till its realization for the offence under Section 138 of the N.I. Act and in default to suffer simple imprisonment for three months. The amount of fine of Rs.2,83,32,500/- along with 9% simple interest from the date of complaint till its realization, if recovered the same be paid to the complainant as compensation vide Section 357(3) of the Cr.P.C.

3. The revision applicant/accused challenged the judgment of conviction dated 18th March 2017 before the Court of Sessions by preferring Criminal Appeal No.249 of 2017. Whereas, the complainant preferred Criminal Revision No.382 of 2017 for enhancement of sentence. The learned Additional Sessions Judge vide order dated 6th December 2018 dismissed Criminal Appeal No.249 of 2017 filed by accused. The judgment and order dated 18th March 2017 passed in C.C. No. 1091/SS/2015 by learned Metropolitan Magistrate, 6th Court Mazgaon, Mumbai was modified to the extent of amount of fine. The accused was ordered to pay fine of Rs.25,000/- in addition to the amount of fine imposed by the trial Court. Order of compensation was maintained. Amount of Rs.50,00,000/- deposited in the Sessions Court was directed to be paid to the complainant after the period of revision is over.

4. The original complainant has preferred Criminal Writ Petition No. 4126 of of 2019 for setting aside the orders of the Courts below with regard to the compensation and imprisonment on the ground that it is inadequate.

5. The relevant facts for adjudicating the grievance of both the sides are as under:-

<WXY>(i) The revision applicant was prosecuted for offence under Section 138 of the Negotiable Instruments Act in C.C. No. 1091/SS/2015. The Respondent No.1 in the Revision Application and Petitioner in Criminal Writ Petition is the complainant.

(ii) The accused approached the complainant and represented as builders and developers of the property at CTS No. 506/A/1, CTS No. 506-A and CTS No. 186-A (part) situated at Chembur, Mumbai.

The accused represented that, they intend to carry the development on the said property and looking for investors in the project. The complainant entered into the MOU dated 3rd July 2010 with the accused. Agreement dated 9th July 2010 was executed. The complainant paid the amount of Rs.2 crores to the accused.

(iii) The accused failed to complete the construction. In order to discharge liability, the accused issued three cheques viz. Cheque bearing No.910456 dated 3rd November 2014 for the sum of Rs.1,00,00,000/-, Cheque No.910457 dated 3rd November 2014 for sum of Rs. 1,00,00,000/- and cheque No. 910458 dated 3 rd November 2014 for sum of Rs. 83,32,500/-.

(iv) The cheques were deposited by complainant with his bank. All the cheques were dishonoured with remarks "fund insufficient". Statutory notice dated 24th November 2014 was sent to the accused. It was received by the accused. Payment was not made. The complaint was filed on 6th January 2015.

(v) Affidavit of examination-in-chief of complainant was filed on 10th November 2015. The complainant was cross-examined by the Advocate for accused. Evidence of other witnesses was recorded. Complainant examined CW-2 Ragini Modi, CW-3 Balkrishna Ingle, CW-4 Bhushan Sonavane, CW-5 Ashok Arulekar and CW-6 Manoj Sharma. Statement of accused was recorded under Section 313 of Cr.P.C.</WXY>

6. Learned Advocate for the Revision Applicant/accused submitted as under:-

<WXY>(i) Judgment of tria