This appeal is filed by the complainant under Section 378(4) of Cr.P.C., challenging the judgment of acquittal dated 07.02.2020 passed by the XXII Additional Chief Metropolitan Magistrate, Bengaluru, in CC No.8638/2018, whereby the learned Magistrate has acquitted the accused/respondent herein of the offence punishable under Section 138 of Negotiable Instruments Act, 1881 (‘N.I. Act’ for short).

2. The brief factual matrix leading to the case are as under:-

The accused was doing jewelry business in the name and style of Sri. Lakshmi Venkateshwara Jewels and the complainant is the regular customer. It is alleged that the complainant has sold some gold jewels to the accused and the accused retained Rs.5,00,000/- in the sale amount with a request to the complainant to invest the same in gold chit, which is repayable with interest at 2% p.a., and the complainant has accepted the said proposal. It is alleged that the accused in spite of lapse of several months, neither paid the said amount nor interest there on as assured. Thereafter, on demand for repayment of the said amount by the complainant, the accused issued a cheque under Ex.P1 dated 06.12.2017 for a sum of Rs.5,00,0