M.N.BHANDARI,J. - (1.) By this petition, a challenge is made to the orders passed by the trial court so as the appellate court.
(2.) The petitioner maintained a complaint under Section 138 of the Negotiable Instruments Act, 1881 (in short "the Act of 1881 "). The court convicted the accused and sentenced him. The compensation of Rs. 70,000/- against total cheque amount of Rs. 42,750/- was given. On an appeal, the amount of compensation was enhanced to Rs. 80,000/- while maintaining the conviction but modified the order of sentence by awarding punishment to the non-petitioner till rising of the court.
(3.) Learned counsel for petitioner submits that amount of compensation should have been calculated by charging interest @18% per annum as given under Section 117 of the Act of 1881. If the component of interest on the amount of cheque is calculated, it would be greater than twice the amount. Accordingly, whatever compensation has been given, it is without determining as per Section 117 of the Act of 1881. In view of above, the compensation of cheque amount should be determined after taking component of interest @18% p.a.;