Siddhartha Chattopadhyay, J. - (1.) The petitioner challenges the impugned judgment dated 12th December, 2013 passed by Additional Sessions Judge, Fast Track 4th Court, Diamond Harbour in a criminal appeal being preferred challenging the judgment and order of conviction dated May 31, 2010 passed by the learned A.C.J.M., Diamond Harbour in complaint case No. 04 of 2007.
(2.) According to the petitioner, the complainant and his wife purchased 700 shares of Morgan Stanley Growth Fund in 1995 and shares certificates were duly issued in their favour. It has been alleged in complaint case that his wife was eager to dispose of the said shares and approached the accused for selling the shares because they did not have any Demat Account, which is necessary for sale and purchase of the shares. The accused was having a Demat Account. The complainant further stated that his wife put her signature on shares transfer form on good faith and handed over the same to the present petitioner. The accused informed the complainant and his wife that the sale proceeds of the share was Rs.25,000/- and after deduction the complainant is supposed to get Rs.25,100/-. The accused did not pay the same by cash but towards the discharge of his liabilities he had issued a cheque bearing No.259306 dated June 24, 2006. Since the cheque was dishonoured by the bank concerned, so after observing all legal formalities he has initiated a case under Section 138 of N.I. Act against the petitioner.
(3.) Learned Trial Court on appreciation of evidence found him guilty and convicted the present petitioner under Section 138 of N.I. Act and sentenced him to undergo rigorous imprisonment for two months and also sentenced to pay a fine of Rs.5,000/- in default rigorous imprisonment for one month and also awarded compensation of Rs.1 lakh in favour of the complainant. That finding of the learned Trial Court was challenged before the First Appellate Court. The said Court heard argument of both sides and on appreciation of evidence and after proper scrutinization of the record confirms the said finding of the learned Trial Court, but has modified the conviction by awarding Rs.50,000/- instead of Rs.1 lakh as compensation. Other parts of the sentence of the learned Trial Court remain undisturbed.;