S.K. JAIN Vs. VIJAY KALRA

JUDGEMENT

(1.) The appellant in Crl. A. No.1011/2013, namely Shri S.K. Jain is the husband of the appellant in Crl. A. No.1012/2013, namely Smt. Sneh Jain. Two separate complaints one by Shri S.K. Jain and the other by Smt. Sneh Jain, were filed under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the "N.I. Act"). It was alleged in the complaint filed by Shri S.K. Jain that in September, 2002, the respondent/accused approached him and his wife for a loan of Rs.31.00 lakh. The complainant, Shri S.K. Jain, was earlier running a finance company by the name Umang Fincap Private Limited. He and his wife agreed to advance loan of Rs.31.00 lakh to the respondent, subject to the condition that he would return the same with interest after one (1) year. It was further alleged in the complaints that the complainants, S.K. Jain and his wife, had given this money out of the funds which they had kept for the marriage of their three daughters and the amount which he had acquired after selling his property in Rohini. It was further stated that in January, 2005, the respondent/accused issued a cheque of Rs.10.00 lakh drawn on Oriental Bank of Commerce, Kingsway Camp, New Delhi in favour of the respondent, in discharge of his part liability, and requested him not to present the cheque till February, 2005. It was further alleged that in February, 2005, one more cheque, this time of Rs.4.35 lakh, was issued by the respondent in favour of the complainant, towards discharge of his liability. The said cheque was drawn on Punjab National Bank, Mall Road, Delhi. Both these cheques were deposited by the complainant with his banker, but the first cheque was returned with the remarks "Stop Payments" and the second with the remarks "Insufficient Funds". After serving a legal notice upon the respondent the aforesaid complaint was filed by Shri S.K. Jain.

(2.) Similar allegations were made in the complaint filed by Smt. Sneh Jain. In that case, one cheque dated 17.1.2005 for Rs.10.00 lakh is alleged to have been issued by the respondent/accused in January, 2005 and the other cheque for Rs.11.00 lakh dated 24.1.2005 is alleged to have been issued later. The aforesaid cheques were presented to the bank. Yet another cheque, this time of Rs.9,13,500/- is alleged to have been issued by the respondent in February, 2005. The first two cheques were returned by the bank with the remarks "Stop Payment" whereas the third cheque was returned with the remarks "Insufficient Funds". A legal notice was thereafter served upon the respondent and since no payment was made within the prescribed period, the aforesaid complaint was filed by Smt. Sneh Jain.

(3.) In his affidavit by way of evidence Shri S.K. Jain supported on oath the averments made in the complaint. However, in the cross-examination he stated that from 2002 to 2008, he was doing a private job, getting a salary of less than Rs.10,000/- per month. He also stated that he had four children including three daughters. He also claimed that House No.B2/34, Sector 15, Rohini was sold by him for a consideration of Rs.22.00 lakh.