Man Gets 2 Yrs In Jail, Rs 2.4 Cr Fine In Cheque Bounce Case

(MENAFN- Kashmir Observer) Srinagar- A court here has sentenced a man to two years in jail and directed him to pay Rs two crore and forty lakh to the complainant in a cheque bounce case.

According to the complainant, a resident of Shari Bhat Srinagar, who intended to purchase some land, the accused-Naseer Ahmad Sheikh of Gadoora Ganderbal- approached him and offered land worth Rs. 1,20,00,000.

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Interested in the deal, the complainant paid the amount to Sheikh through various modes, according to a complaint filed before the court. However, despite making the entire payment, Sheikh failed to provide the documents and execute a sale deed for the land which was to be purchased by the complainant. When a considerable amount of time elapsed, the complainant sought refund of the entire amount. In this regard, Sheikh issued 12 cheques of Rs ten lakh each.

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The complainant presented the cheques before the drawee bank on due date but to the utter surprise of the complainant, the cheques were dishonoured at the bank owing to the fact that the funds in the account were insufficient. Subsequently, the complainant filed a case with the Court under the provisions of NI Act in 2018.

After hearing both parties, the court-City Judge Srinagar Sajad Ur Rehman-
held Sheikh guilty, observing that the cheques were issued by the accused in discharge of his liabilities and same got dishonoured on its presentation due to the reason“funds Insufficient” and Sheikh failed to make the payment of the cheque amount after receiving the demand notice.

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“That satisfies all the ingredients of offence punishable under Section 138 of Negotiable Instrument Act, 1881 rendering accused guilty for commission of that offence,” the court said and accordingly convicted Sheikh.

“The commission of offence punishable under Section 138 of N.I Act is increasing day by day and is required to be dealt strictly. Therefore, keeping in view the facts and circumstances of the present case, the interest of justice would be met if the convict Naseer Ahmad Sheikh is sentenced to undergo Simple Imprisonment for a period of 02 years for commission of offence punishable under Section 138 of Negotiable Instruments Act, 1881,” the court said, adding,“The accused is also sentenced to pay fine of Rs. 2 crore and 40 lakhs”.

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