This is a private complaint filed by the complainant
against the accused for the offence punishable under
Section 138 of Negotiable Instruments Act.
2. The brief facts of the complainant’s case is as
under:
It is contended that, the accused being well acquainted
with the complainant from past several years, approached
for the hand loan of Rs.3,50,000/-. Considering the request
of the accused, the complainant has advanced
Rs.3,50,000/- in the 4th week of January 2019 on the
assurance that, the accused shall return the amount within
three months. After the lapse of three months, when the
complainant demanded the return of the amount, the
accused issued the cheque bearing No.018679
dt:04.11.2019 for Rs.3,50,000/- drawn on SBI, Magadi
C.C.No.14521/2020
road, Manuitej Towers, Bangalore-79, assuring that, on its
presentation, it would be honored. Believing the
representation, when the complainant presented the cheque
through his banker ie., Karnataka Bank, Basaveshwara-
nagar branch, it dishonored with shara as “Funds
Insufficient” dt:06.11.2019. Thereby, the complainant got
issued the demand notice dt:04.12.2019 through RPAD,
which served on the accused. Despite which, he has not
chosen to comply it, which has given cause of action to file
the present complaint.
