Vijay Kumar Verma vs State and Another

S.P. Garg, J.—Vijay Kumar Verma (the appellant) impugns a judgment dated 20.5.2003 in Complaint Case No. 50/2003 titled ''Yogesh Sethi v. Vijay Kumar Verma'' by which he has convicted u/s 138 Negotiable Instruments Act and by an order dated 24.5.2003 sentenced to undergo RI for six months with fine Rs. 2 lacs. During the course of arguments, the parties expressed their desire to settle the dispute amicably. The parties have reported settlement. It is agreed that the appellant shall pay Rs. 3.25 lacs to the respondent No. 2/complainant in full and final satisfaction of the whole claim. Rs. 2 lacs have already been deposited by the appellant in compliance of the order of this Court and the appellant''s counsel has no objection for release of the said amount with accused interest (if any) to the complainant. A cheque bearing No. 158765 dated 02.12.2013 in the sum of Rs. 1 lac drawn on Axis Bank has been handed over to the complainant in the Court today besides Rs. 25,000/- (in cash). The respondent No. 2 and his counsel have no objection to settlement/compromise.

Since the matter has been settled and the appellant has paid Rs. 3.25 lacs in full and final satisfaction of the claims, the offence under Sec. 138 Negotiable Instruments Act stands compounded by the complainant. The appeal is accepted and the conviction and sentence of the appellant is set aside and he is acquitted in this case. Registry shall release Rs. 2 lacs with accrued interest (if any) to the complainant. The appeal stands disposed of in the above terms.