This Complainant Society through its authorized
representative has presented the complaint on 06.09.2025
against the accused for the offense punishable under Sec.138
of Negotiable Instruments Act, 1881 (hereinafter it is referred
to as NI Act).
2. THE BRIEF FACTS OF THE COMPLAINANT’S CASE
ARE AS UNDER:-
a) The complainant is the Souharda Registered under
the Karnataka Souharda Sahakari Act, 1997 and doing the
banking business in accepting deposits and lending loans to
its members in accordance with the provisions of bye-laws and
subsidiary Rules, which have been approved by the Registrar
of Co-operative Societies in Karnataka.
b) It is further case of the Complainant Society that
the accused and Sri. Sanjay are became the members of
Complainant Society. The accused being a member of
Complainant Society has made an application for sanction of
immovable property loan of Rs.2,40,00,000/-on 07.03.2024
for the business purpose. That, after executing all the
necessary documents, such as D.T.D, loan agreement,
Surety/guarantor, consideration receipt and On Demand
Promissory Note etc., in favour of Complainant Society, the
Complainant Society has sanctioned the immovable property
loan Rs.2,40,00,000/- to the accused and same was credit to
the account of the accused on 08.05.2024. Sri. Sanjay stood
as surety/guarantor for the said loan sanctioned to the
accused. The accused has agreed to repay the availed loan
amount within 96 months along with interest of 14% per
annam and penal interest 2% per annum in case of default.
