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| One year imprisonment to Property Dealer in Cheque Bounce case | | | Early Times Report
JAMMU, Dec 30: Chief Judicial Magistrate Jammu Anjum Ara today awarded one year imprisonment and fine Rs 10,000 to Shashi Mahajan in cheque bounce case.
Court further ordered that Accused shall also pay compensation of Rs 35 lacs to the complainant which includes cheque amount of Rs. 25 lakh and 10 lakh being the compensation for the loss and damages sustained due to non payment by the accused since 14-11-2007 with interest @ 6 % per annum till its realisation.
It is alleged in the complaint that the accused is a property dealer and deals in the business of sale and purchase of landed property. The complainant is the lawful owner of the landed property situated at Channi Bija Tehsil Jammu. Therefore, in order to discharge the legal and enforceable liability pertaining to the land transaction, the accused issued a Payee's Account Cheque No.062027 under A/c 1460000101105935, dated 14.11.2007 for an amount of Rs.25.00 Lakh (Rs. Twenty-five Lakh) to be drawn at Punjab National Bank Branch Shastri Nagar Jammu in favour of the complainant. The accused assured the complainant that the aforesaid cheque shall be encashed as and when the same is presented in the bank, therefore, the complainant accepted the cheque and accordingly the complainant presented the aforesaid cheque with her own bankers i.e. Punjab National Bank Branch Shalamar Road Jammu for encashment on 19.04.2008, but the cheque was returned as unpaid to the complainant with the memo whereby the bank has written that "funds insufficient" in the bank account of the accused.
—JNF |
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