Sri K. Ashok Suvarna vs Dr. B. Nishakanth Shetty

A.N. Venugopala Gowda

Petitioner was prosecuted by the respondent in C.C. No. 26228/2008, on the file of 23rd Additional CMM, Bangalore. By a judgment dated 20.12.2012, petitioner was found guilty and was convicted for the offence) u/s 138 of N.I. Act and was sentenced to pay fine of Rs. 10,68,816/-, in default of payment of fine, to undergo simple imprisonment for a period of one year. Out of the fine amount, when realised, Rs. 10,63,816/- was ordered to be paid to the complainant as compensation. Crl. A. No. 30/2011, filed in the Sessions Court at Bangalore City, was dismissed on 02.08.2011. Challenging the said judgments/orders, the accused has filed this criminal revision petition. Sri. M.B. Chandrachood, learned Advocate appearing for the petitioner, in the presence of the petitioner, submitted that, the challenge to the finding of guilt for the offence u/s 138 of N.I. Act is given up. He submitted that the petitioner has deposited till now Rs. 3,73,000/- and hence the sentence of fine imposed on the petitioner may be scaled down.

Sri. Vishwajith Shetty, learned Advocate appearing for the respondent, submitted that the fine/compensation amount may be reduced by Rs. 23,816/- and the fine/compensation payable may be determined at Rs. 10,40,000/-. Learned Counsel submitted that, if the petitioner were to pay the fine/compensation amount of Rs. 10,40,000/-, the respondent would'' execute the deed, canceling the deed of deposit of title deeds and return the deposited original title deeds to the petitioner-accused. Learned Counsel further submitted that, within three weeks from the date the deposit is made and particulars furnished by the petitioner, the memorandum of cancellation of deposit of title deeds would be executed, the cost of which will have to be borne by the petitioner herein. In view of the agreement arrived at between the parties, while maintaining the conviction of the petitioner for the offence u/s 138 of N.I. Act, the sentence imposed on him i.e., to pay fine of Rs. 10,68,816/- is modified. The fine amount payable is determined at Rs. 10,40,000/-. Petitioner has already deposited Rs. 3,73,000/-. The said sum be released to the respondent/complainant. The balance amount of Rs. 6,67,000/- be deposited by the accused in the trial Court before 28.02.2013. Upon such deposit, if any, the same also be released in favour of the complainant. In case of default, in depositing the balance fine amount of Rs. 6,67,000/- on or before 28.02.2013, the bail bond and the surety bond shall stand cancelled and the petitioner shall surrender before the trial Court and serve the jail sentence.

Petition is disposed of accordingly.