- (1.) Leave granted.
(2.) This appeal arises out of the judgment dated 12.07.2017 in Criminal Appeal No. 491 of 2008 reversing the acquittal and convicting the appellant-accused under Section 138 of N.I. Act and imposing the compensation amount of Rs. 4,90,000/- along with fine of Rs. 50,000/- to be paid to the respondent-complainant.
(3.) The respondent-complainant runs a shop-M/s Kisan Bandhu having a business in the agricultural industry. The appellant-accused is the owner of M/s Rajesh Agro Trader and involved in agricultural industry. The appellant and the respondent used to transact business amongst themselves in cash and also in credit. The appellant on 30.12.2002 issued a cheque bearing No. 2282696 drawn on Bank of India, Kangaon Branch for an amount of Rs. 2,45,553/-/. On 29.01.2003, the said cheque was dishonoured with endorsement "exceeds arrangement". On 05.02.2003, notice was issued to the appellant-accused demanding payment of the cheque amount. The appellant-accused in spite of receipt of notice, had not chosen to reply.;