CAV JUDGMENT

This appeal is filed challenging the judgment dated 30.04.2013 passed in C.C.No.10182/2009 by the XV Additional Chief Metropolitan Magistrate, Bangalore City for the offence punishable under Section 138 of N.I. Act.

2. Heard the learned counsel appearing for the respective parties.

3. The factual matrix of the case of the complainant before the Trial Court that accused had availed a loan of Rs.4 lakh from the complainant promising to repay the same with 24% interest per annum within a year i.e., by the end of February 2009. The complainant further contends that he met the accused at Mangalore and demanded for repayment of the loan amount with interest and traveling expenses. The accused had issued a Cheque for a sum of Rs.5 lakh falsely assuring that the Cheque will be honoured when presented for encashment towards repayment of the legally recoverable debt. It is also the case of the complainant that when the Cheque was presented for encashment, the same was dishonoured as funds insufficient vide memo dated 09.03.2009 and the complainant immediately contacted the accused for payment of the amount but the accused failed to repay the same. Hence, the complainant got issue