SRINAGAR: In an interesting development, Judicial Magistrate Budgam, Wednesday convicted Mushtaq Ahmad Wagay, accused of cheque bounce offence, and sentenced him to imprisonment of two years besides payment of double the cheque amount to the complainant.
The stringent punishment is being seen as a significant step towards stopping the growing instances of issuing a cheque without sufficient funds in ones account.
The instant complaint under section 138 of Negotiable Instruments Act had been filed by J&K Banks branch head for business unit Humhama against Mushtaq Ahmad Wagay proprietor M/s
Mushtaq Ahmad Wagay for cheating the bank by presenting a cheque that bounced due to insufficient funds in the account. He had issued the cheque after repeated requests by the Bank to adjust his TOD (Temporary Over draft) of Rupees Three Lac plus applicable interest.
The Court vide its judgment dated 27.04.2016 observed that The accused has admitted in his statement the contents of the complaint. The accused was asked that same can be read against him and he can be convicted but he claimed against the trial, he admits cheque, notice and transactions, as such admitted liability as well as debt. Court is meant to administer justice and follow procedure for reaching a just decision
The judgment concluded thus: Since the accused pleaded against the trial and in view of the admission made regarding guilt, accused is convicted and he shall undergo imprisonment of 2 years and shall pay double the cheque amount to the complainant. The accused shall be sent to Central Jail Srinagar.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.