Developer gets two-year RI in cheque-bounce case
Tribune News Service
Chandigarh, December 13
A local court has awarded two-year rigorous imprisonment (RI) to Charanjit Singh Saini, authorised signatory of Preet Land Promoters and Developers Private Limited, in a cheque-bounce case of nearly Rs 1 crore. The court also directed the convict to pay Rs 66,80,820 to the complainant company.
“The court is of the considered opinion that the convict has committed a serious offence by deliberately failing in discharge of his economic liability and has failed to ensure the payment of cheque drawn by him. The commission of offence punishable under Section 138 of the NI Act is increasing day by day and hence should be dealt strictly,” read the court order.
In a complaint, Religare Finvest Ltd stated that the accused availed loan from the firm. As per the stipulated terms and conditions, the accused was bound to repay loan on time as per the schedule of the payment. The accused issued cheques amounting to Rs 1,02,79,820 drawn on Bank of India, Sector 70, Mohali, in favour of the complainant with an assurance that the same would be enchased as and when presented. The complainant presented the cheque for encashment but it was dishonoured by the banker of the accused on December 7, 2017, with remarks of “Account Closed”. A legal notice was also sent to the accused.
In the court, it was stated that the accused only made a payment of Rs 35,99,000 to the complainant company up till January 12, 2018, after receiving legal notice. However, the total outstanding liability of the accused comes to Rs 66,80,820.
The complainant’s advocate, Mohit Sareen, argued that no leniency can be taken against the convict. He also requested for imposing maximum sentence on the convict as he had committed an economic offence. After the arguments the court held him guilty.
“The complainant has been successful in proving its case against the accused beyond reasonable doubt. Hence, he was convicted for commission of offence under Section 138 of the NI Act,” read the order.
