The complainant has filed this private complaint
U/s.200 of Cr.P.C., against the accused for the offence
punishable U/s 138 of the Negotiable Instruments Act.
2. The factual matrix of the case are as follows:-
The accused had acquaintance and knew the
complainant. The accused had borrowed
Rs.25,00,000/- (Rupees Twenty-five lakhs only) from
C.C.No.54928/2023
the complainant on 10.03.2022 which he lent to the
accused by way of cash and as a security for the
above said handloan the accused had pledged an
original registered absolute sale deed dated 07.12.2007
registered as document No.HSK-1-05044-2007-08 in
the office of Sub-Registrar office of Hosakote,
Karnataka. Apart from that, the accused also issued
an on demand promissory note dated 10.03.2022
undertaking to pay an interest @ 1.5% per month.
The accused had undertaken to repay the above said
loan amount within six months from the date of
taking the loan. Hence, the complainant demanded
for return of the amount mentioned above in the
month of October 2022 to repay the said loan amount
from the accused. The accused did not return the
amount as promised despite repeated requests made
by the complainant. As a result of that, the
complainant vehemently started demanding return of
the above referred loan amount from the accused. The
accused sought for some more time, but eventually
when the accused failed to return the amount to the
C.C.No.54928/2023
complainant and as a result of this, in the month of
January 2023, the complainant vehemently made a
demand of the above mentioned loan amount from
the accused and consequently the accused issued a
cheque bearing No.070729 dated 23.01.2023 for
Rs.25,00,000/- drawn on Union Bank of India,
Indiranagar branch, Bengaluru, and instructed the
complainant to present the said cheque for
encashment. The complainant presented the said
cheque for encashment through his banker State Bank
of India, Bhattarahalli branch, Bengaluru, but it came
to be dishonored for the reasons “Funds insufficient”,
vide. bank endorsement dated 24.01.2023. Following
this the complainant called the accused and informed
him about the dishonoring of the cheque issued by
him. Consequently, the accused requested the
complainant to give some more time to arrange the
money and the accused also requested to represent
the cheque again in the second week of February
2023 and accordingly, the complainant represented the
cheque. But, it came to be dishonored stating
C.C.No.54928/2023
“Payment stopped by the drawer” vide. bank
endorsement dated 10.02.2023. This was again shock
and surprise to the complainant. Consequently, the
complainant called upon the accused and demanded
the above said loan amount to be returned from him
strictly. The accused requested for some more time
and advised the complainant to represent the said
very same cheque in the second week of March 2023.
Accordingly, the complainant represented the above
said cheque. But, the said cheque came to be
dishonored stating “Payment stopped by the drawer”
