JUDGMENT

T. Ch. Surya Rao, J.—The instant appeal is directed against the order of acquittal passed by the learned XVIII Metropolitan Magistrate, Hyderabad, by his judgment dated 30th October, 2001 in C.C.No.18 of 2000.

2. The unsuccessful complainant which is a private limited company is the appellant. It filed the complaint under Section 138 of the Negotiable Instruments Act (for short, ‘the Act’). The complainant’s case in nutshell is thus:

3. The complainant is a member of the National Stock Exchange of India and a registered broker carrying on business in shares and securities. The accused was a client of the complainant company and used to trade in shares. In the process, he became liable to pay an amount of Rs.7,21,174.47 ps. The accused after verifying his accounts with the complainant, admitted and acknowledged the liability and in discharge of the said liability issued six cheques, each for Rs. 1, 00,000 and another cheque for Rs.1, 21, 174.47 ps, drawn on Andhra Bank on different dates as detailed in his letter dated 19.2.97 addressed to the complainant. When the first six cheques were presented for encashment with the complainant’s bank on 18.9.97, they were dishonoured