This Appeal is directed against the Judgment of Acquittal (dated 14.02.1997) by the VII Metropolitan Magistrate, Chennai, acquitting the Respondent / Accused for the offence under Sec.138 N.I.Act in C.C.No.2803 of 1995.

2. The Complainant is M/s. Rajendra Finance, said to be represented by its Power of Attorney Nandagopal. Case of Complainant is that the Accused had taken loan of Rs.15,000/- on 08.01.1990 by way of a Cheque bearing No.784871, for the discharge of the same, the Accused, his Brothers and Sister had executed a Joint Promissory Note in favour of the Complainant and promised to repay the same with interest. Despite repeated requests and demands, no amount was discharged. After five years, the Accused issued Cheque No. 509019 dated 20.02.1995 for an amount of Rs.24,926/- drawn on “Punjab National Bank Ltd”, Rajaji Road, Madras in favour of the Complainant and that the Accused had also made oral promise to the Complainant that necessary arrangements would be made to honour the Cheque. On such representation of the Accused, the Complainant had presented the Cheque for collection through his Banker – Indian Overseas Bank on 05.04.1995 for encashment and the same