O R D E R

This Criminal Revision Case has been filed against the concurrent findings of the Courts below in a private complaint initiated under Section 138 of Negotiable Instruments Act [hereinafter referred to as “NI Act”].

2. According to the complainant, the petitioner herein borrowed a sum of Rs.2,80,000/- from a financial institution on 27.08.2008. The money was disbursed by way cash for a sum of Rs.90,000/- and by way of cheque for a sum of Rs.1,80,000/-. The loan was advanced on a specific understanding that the accused will repay the loan with interest at the rate of 19.2% per annum payable by monthly installments of Rs.23,670/-. However, the accused failed to clear the loan amount and as on 22.02.2011 for a sum of Rs.1,80,000/-, which was due and payable, the accused issued a cheque to discharge the said liability. However, the cheque was returned with an endorsement “insufficient funds”. Hence the complaint after statutory notice.

3. The accused denied the liability and issuance of cheque for the enforceable debt. According to the accused, the cheque was obtained by the complainant as a security and it has been presented by filling up the amount and date. To substantiate th