Cheque Bounce Case: Srinagar Court sentences man to 1 year jail, also imposes fine of Rs 32 lakh

Srinagar: A Srinagar Court Friday sentenced a man to one year imprisonment in a cheque bounce case and imposed Rs 32 lakh fine on him.
Reports said after hearing complainant through counsel advocate Aamir Masoodi and defence counsel, court of Judge Small Causes Srinagar presided over by Fayaz Ahmad Qureshi observed that accused issued cheques probably considering he is executing certain pieces of papers to cause delay and not negotiable instruments which are to pass from hands to hands like goods.
Court said that accused not only defeated the object of Negotiable Instrument (NI) Act but he also cheated the complainant by issuing cheques giving her assurance that these cheques would be encashed in due course.
“But unfortunately, for the complainant two cheques issued by the accused turned out to be only pieces of papers which could not get the complainant her own money assured by the accused to be paid by virtue of the cheques.”
It also said that this has not only shaken the trust of the complainant in dealings through negotiable instruments but is also stalled money from free circulation and it has deprived the complainant of her own money.
Court added that the accused shall pay a compensation amount of Rs 32, 24, 000 less by amount of Rs 4 Lakhs which he has already paid, within a period of one month.
“The accused is sentenced to simple imprisonment for one year out of which he shall undergo six months rigorous imprisonment and six months simple imprisonment,” the court said. As per complaint, Fahmeeda Jan, under an agreement had paid Rs 13 lakh to accused Sikandar Khurshid of Rawalpora to purchase a flat in Delhi. “However, after failing to perform the agreement, the accused issued cheques to return money to the complainant which were dishonoured by the bank on the ground of insufficient funds.”