Concurrent verdict of guilty rendered against the petitioner for the offence under Section 138 of the Negotiable Instruments Act, for short, 'the N.I.Act', is challenged in this revision. Petitioner, hereinafter referred to as the 'accused' was prosecuted for the above offence on a complaint filed by the 1st respondent. The learned Magistrate, after trial, negativing his plea of not guilty found him guilty, convicted and sentenced him to undergo simple imprisonment for one month and to pay a sum of Rs.1,40,000/-as compensation to the complainant under Section 357 (3) of the Cr.P.C. with default term of simple imprisonment for one month more. In appeal, the Additional Sessions Judge, Ernakulam, confirmed the conviction and sentence without any modification.

2. The case of the complainant in brief is thus: The accused towards discharge of a liability under a loan availed, issued Ext.P1 cheque for a sum of Rs.1,40,000/- promising its encashment on presentation in due course. Statutory notice issued intimating the dishonour of the cheque and demanding the sum thereunder was acknowledged but not responded with payment. Complainant thereupon laid a complaint to prosecute the a