This case is registered against the accused for the
offence punishable U/s 138 of Negotiable Instruments
Act.
2. Factual matrix of the complainant’s case is as
under:
It is stated that the complainant knows the accused
from past several years, as they are doing business of
purchase of gold and silver items. The accused used to
purchase in large quantity of silver from the complainant
as he is a gold smith and proprietor of M/s Ramesh Silver
Metal Works Shop/office at No.11/1, 13th Cross,
Cubbonpet, Bangalore, the accused is doing business with
the complainant continuously and used to clear earlier
dues and take new silver on credit basis.
3. That on 19.08.2019, the accused had taken 12.5
K.G of silver from the complainant for the purpose of
sales and doing business and not paid the amount for the
said purchase. Whenever the complainant asked for
payment, the accused used to say that along with interest
he will repay the amount of silver and postponed it. After
lapse of 3 years and the accused has executed a letter of
undertaking dated 30.11.2022 in which, he had conceded
regarding the business transaction and agreed to give
back, the amount within 3 months, for the prevailing
market value of the silver and also issued cheque for
security purpose. Whenever the complainant demanded
the payment, the accused has postponed it. After, the
calculation, the total outstanding amount to be payable
from the accused to the complainant is Rs.12,00,000/- as
on December 2023. That time the accused asked the
complainant to bring the cheque which was given by him
and accordingly he filled it and given .
