JUDGMENT

1. The present leave to appeal is filed for setting aside the judgment dated 16.09.2019 (hereafter ‘impugned judgment’) passed by the learned Metropolitan Magistrate (‘MM’), South East, Saket, New Delhi in CC No. 617270/2016 whereby the respondents were acquitted of the offence under Section 138 of the Negotiable Instruments Act, 1881 (‘NI Act’).

2. It is the petitioner’s case that he had advanced a friendly loan for a sum of ₹48,00,000/- to Respondent No. 2 and accused Vishnu Partap Singh on behalf of Respondent No. 1. It is alleged that in order to repay the said loan, Respondent No. 2 and accused Vishnu Partap Singh, being partners of Respondent No. 1 issued two post-dated cheques on 04.04.2011 amounting to ₹24,00,000/- each, which on presentation, returned unpaid with the remarks “Insufficient Funds” vide return memo dated 04.04.2011. It is alleged that thereafter the petitioner sent a legal demand notice dated 16.04.2011. It is alleged that the payment was not made even within 15 days of the receipt of the demand notice, consequently a complaint under Section 138 of the NI Act was filed.

3. Respondent No. 2 in his statement under Section 313 of the Code of Criminal Pr