Srinagar- A court here on Friday sentenced a businessman to six months imprisonment and fined him Rs 5 lakh in a cheque bounce case.
Judge Small Causes Srinagar, Ms Tabasum, found the businessman M Syed Lone guilty under section 138 of Negotiable Instruments Act.
“Perused the contents of the statement of the accused recorded in terms of the provisions of section 251 Cr.PC. The accused admitted that he has to pay amount towards the complainant, however at the last of the statement he seeks one month time to make the amount, finally he has failed to make the payment towards the complainant on the listed date,” the court observed, adding, “The accused person is found guilty for the commission of crime offence u/s 138 NI Act. As such, the accused is convicted and is sentenced to undergo simple imprisonment for a period of six months and is also sentenced by way of fine to the tune of rupees double the cheque amount which equals to Rs.5,00,000.”
The court directed the prosecution to take custody of Lone and sent him to central jail Srinagar.
“The fine imposed shall be recovered by issuance of levy warrant to be executed by District Collector Srinagar authorizing him to realize the total amounting to Rs.5,00,000 /-(Five lac) by execution/attachment through civil process against both movable and immovable property of the accused.”
The complaint was filed by one M K Qadri, also a businessman dealing with pharmaceuticals, stating that he supplied medicines to the accused and in order to make the payment, the accused issued two cheques dated 25 April 2022 and 26 April 2022 each amounting to Rs 1.25 lacs payable at J&K Bank Branch Fateh Kadal Srinagar. The complainant presented the mentioned cheques in the concerned Bank for encashment but were returned unpaid with the remarks ‘Funds Insufficient’.
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