JUDGMENT

Sanjay Dhar, J. - The petitioner has challenged order dated 30.12.2019 passed by learned Judicial Magistrate, 1st Class (Munsiff), Bandipora, whereby in an application for grant of interim compensation under Section 143-A of the Negotiable Instruments Act (hereinafter referred to as the NI Act), the learned Magistrate has granted interim compensation @20% of the cheque amount i.e., an amount of Rs.13.60 lacs in favour of the respondent(hereinafter referred to as the complainant) against the petitioner (hereinafter referred to as accused).

2. A perusal of the record shows that the complainant has filed a complaint under Section 138 of the NI Act against the accused before the trial court. In the complaint it has been alleged that the accused has issued a cheque bearing No.787621 dated 02.08.2018 for an amount of Rs.68.00 lacs in favour of the complainant to discharge his liability which, according to the complainant, was to the tune of Rs.1,43,10,324/. The cheque was drawn on Jammu and Kashmir Bank Limited Branch, Handwara. The complainant when presented the cheque for encashment, the same was returned by the bank of the accused unpaid on the ground of insufficiency of funds