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HARKESH MANUJA
Ishan Textiles Mills Pvt. Ltd. – Appellant
Versus
Punjab State Coop. Bank Ltd. – Respondent
JUDGMENT
Mr. Harkesh Manuja, J. (Oral)
By way of present revision petition, challenge has been made to the judgment dated 23.04.2015 passed by the Court of learned Sessions Judge, Chandigarh, whereby an appeal filed at the instance of present petitioner has been partly allowed by modifying the judgment and order of sentence pertaining to an offence under section 138 of Negotiable Instruments Act 1881, passed by the trial Court on 22.03.2014 by reducing the sentence awarded to the petitioner from RI 1.5 years to RI 6 months.
2. The facts of the case are that arising out of loan transaction dated 20.07.1999, a cheque bearing No.031494 dated 17.04.2009 for a sum of Rs.2,67,43,356.12 was issued at the instance of petitioner, in favour of respondent. On account of its dishonour a complaint bearing No.5589 dated 04.06.2009 came to be filed against the petitioners resulting into conviction besides awarding of sentence to the effect of rigorous imprisonment for a period of 1.5 years, vide judgment dated 22.03.2014.
3. Aggrieved thereof, the petitioners filed first appeal which was partly accepted vide judgment dated 23.04.2015 and the sentence was reduced from RI 1.5 years to RI 6 months. C
The main legal point established is that the compounding of the offence under Section 138 of the Negotiable Instruments Act can be allowed based on a mutual compromise between the parties, leading to....
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