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CHANDRA DHARI SINGH
Harsh Sehgal – Appellant
Versus
State And Another – Respondent
JUDGMENT
Chandra Dhari Singh, J. - The instant batch of petitions has been filed on behalf of the petitioners under Section 482 of the Code of Criminal Procedure, 1973 (hereinafter 'Cr.P.C.'), seeking setting aside of order dated 5th February, 2022 passed by learned additional Sessions Judge, Saket Courts, Delhi (hereinafter 'aSJ').
BRIEF BaCKGROUND
2. as per the contents of the complaint, the brief facts of the case leading to the instant matter are that the complainant/respondent no. 2, Galaxy Datamatics Pvt. Ltd., averred that the accused no. 1, M/S Takshila Retail Pvt. Ltd., earlier known as M/s Blues Clothing Pvt. Ltd., accused no. 2, Dinesh Sehgal and accused no. 3, Harsh Sehgal, approached the respondent no.2 for a short-term loan of Rs. 5 Crores for meeting short fall in cash flow and for immediate project requirements for implementation of various contracts.
3. a short-term loan agreement dated 9th June, 2011 was entered into by the parties and respondent no. 2 advanced the loan of Rs. 5 Crores to the accused for a period of three months at interest of 24% per annum. It was stated that the parties also agreed for execution of an irrevocable and unconditional personal guarant
Section 148 of the NI Act is retrospective in nature and applies to appeals arising out of complaint cases filed prior to the amendment of 2018.
The aim of Section 148 NI Act is to provide relief to the complainant by empowering the Appellate Court to direct payment of a portion of the fine/compensation during the pendency of appeal. The vaca....
The main legal point established in the judgment is the retrospective applicability of Section 148 of the Negotiable Instruments Act, the mandatory nature of the Appellate Court's discretion to direc....
The Appellate Court's power to order the appellant to deposit a minimum of 20% of the fine or compensation under Section 148 of the Negotiable Instruments Act, as amended in 2018, is mandatory and no....
The appellate court has the power to modify the condition for stay of sentence under Section 148 of the Negotiable Instruments Act in light of the financial difficulties faced by the appellant.
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