KUNTEGOWDA Vs. THURUBAIAH

JUDGEMENT

(1.) Leave granted.

(2.) The present criminal appeal has been preferred by the complainant/appellant assailing the order dtd. 6/10/2023 passed by the High Court of Karnataka at Bengaluru in Criminal Revision Petition No.1502 of 2016 wherein the High Court allowed the said criminal revision petition preferred by the respondent (hereinafter referred to as 'accused') and thereby set aside the order of conviction dtd. 19/9/2016 passed by the Court of LXV Additional City Civil & Sessions Judge, Bangalore in Criminal Appeal No.1224 of 2015. The said Criminal Appeal was preferred by the accused being aggrieved by the judgment dtd. 1/9/2015 of the Court of the XL Additional Chief Metropolitan Magistrate, Bangalore in Complaint Case No.12108 of 2013 wherein the Magistrate had convicted him under Sec. 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as "NI Act") and thereby sentenced him to pay a fine of Rs.9,00,000.00 (Rupees Nine Lakh) and in default of payment of the fine, to undergo simple imprisonment for six months.

(3.) Briefly stated, the admitted facts of the case leading to the present Appeal are that the complainant and accused, being acquainted with each other, entered into an agreement in December 2010 whereby a hand loan of Rs.4,50,000.00 (Rupees Four Lakh and Fifty Thousand) was extended by the complainant to the accused for the purpose of purchase of a house site. It was further agreed by the parties that the said loan would be paid by the accused within a period of one year with interest at the rate of 16% per annum.