In a cheque bounce case, a court here on Monday convicted a man to six months' imprisonment and directed him to pay Rs one lakh compensation to the complainant.
Chief Judicial Magistrate Bandipora, V S Manhas convicted the person to six month imprisonment under Negotiable Instrument Act (NI Act). The court directed the convict to a pay compensation of rupees one lakh in addition to the amount of cheque (in total Rs six lakh) to the complainant.
The complainant, Bashir Ahmad son of Ghulam Mohi-ud-Din Trunkjroo of Sopore had filed a complaint in the court of CJM Bandipora pleading that the accused had borrowed Rs 5 lakh from him promising to invest the amount in gold as the accused has been running a jewelry shop in Bandipora.
The accused had promised to return the amount along with "profit accrued on it" which he failed to pay and instead issued a cheque dated 21-05-2015 drawn on Jammu and Kashmir Bank, Main Branch Bandipora.
The complainant had presented the cheque before the bank but it was returned due to the insufficiency of funds.
Despite legal notices from the complainant, the accused did not pay the amount following which the complainant lodged the complaint in the court.
The court observed that the accused has committed the offence under section 138 of N I Act and as such was held guilty.
"The accused is accordingly convicted under section 138 N.I Act and is sentenced to undergo imprisonment for a period of six months and is also directed to pay a compensation of rupees one lakh in addition to the amount of the cheque," reads the order issued by CJM Bandipora.
It further reads that in case the accused failed to pay compensation as well as the amount of the cheque, he shall have to further undergo six months of the sentence in default out of which one-fourth of the sentence shall be rigorous. "The accused shall be taken into custody forthwith for the execution of the sentence awarded."