Excelsior Correspondent
JAMMU, Feb 27: Forest Magistrate Jammu Yahaya Firdous has awarded seven months imprisonment to Rakesh Gupta, Proprietor of M/s Able Traders in cheque bounce case.
According to the case, M/s Ess Ess Traders dealing with electric goods having its business at Parade alleged that the accused Rakesh Gupta, Prop M/s Able Traders approached him to borrow an amount of Rs 4 lakh for promotion and expansion of business.
After six months, accused issued a cheque of Rs 4 lakh, which was returned by the bank with the endorsement “Exceeds arrangement”.
After hearing Advocate Ashwani Khajuria for the complainant and Advocate Navneet Dubey for the accused, the court observed, “the complainant has made out a chain connecting the accused in the commission of crime under Section 138 of Negotiable Instrument Act”. Accordingly, court awarded simple imprisonment and fine of Rs 6 lakh.
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