1. This Criminal Appeal has been filed seeking to set aside the judgment dated 01.07.2014 made in C.A.No.27 of 2014 on the file of the Vth Additional District and Sessions Judge, Coimbatore, reversing the judgment dated 07.02.2014 made in STC No.271 of 2012 on the file of the Judicial Magistrate, Fast Track Court at Magisterial Level - II, Coimbatore.

2. For the sake of convenience, the appellant and the respondent will be referred to as complainant and accused.

3. It is the case of the complainant that the accused borrowed Rs.2 lakhs from him on 05.09.2006 for his business purpose and executed a promissory note [Ex.P.1] promising to repay the amount on demand with interest at 15% per annum. In discharge of the said liability, the accused issued a cheque bearing no.369470 [Ex.P.2] for Rs.2,40,000/- drawn on HDFC Bank, Trichy. The complainant presented the cheque for collection on 07.01.2008 with Syndicate Bank, Coimbatore and it was returned unpaid on the ground "Account closed", vide cheque return memo [Ex.P.3] dated 09.01.2008. The complainant issued a statutory notice dated 12.01.2008 [Ex.P.5], which was received by the accused on 14.01.2008, vide Acknowledgment Card [Ex