- (1.) In this petition the Petitioner has prayed for special leave to appeal against the judgment of acquittal dated 5.12.2009 passed in Complaint Case No. 1167 of 2004 by learned Judicial Magistrate, 1st Class. Ranchi. By the said judgment learned court below has acquitted the accused-opposite party No. 2 of the charge' under Section 138 of the Negotiable Instruments Act.
(2.) The fact of the case, in brief, is as under: The complainant - M/s. Shivam Finance & Leasing Company carries on business of finance and hire purchase of motor vehicle. The accused - opposite party No. 2 had taken loan from the compiainant and in order to pay liability towards the truck bearing registration No. BR13H/2292 had issued a cheque bearing No. 427421 dated 12.10.2004 for a sum of Rs. 2,75,000/- drawn on United Bank of India, Ranchi Branch in favour of the complainant. This cheque was presented for encashment on 27.10.2004 but the Bank returned the same with the endorsement of reason 'insufficient fund'. The complainant, thereafter, sent a legal notice of demand dated 2.11.2004 through registered post with A/D, but the accused-opposite party No. 2 did not make payment of the amount. The complainant, thereafter, lodged the complaint.
(3.) On the said complaint the accused-opposite party was summoned for trial. The opposite party appeared. Substance of accusation under Section 138 of the N.I. Act was explained to him, to which he pleaded not guilty.;