Excelsior Correspondent
JAMMU, Aug 23: Chief Judicial Magistrate Samba Preet Simran K Grover today awarded six months imprisonment and imposed fine of Rs 23,64,315 on Subash Aggarwal, MD and Devinder Kumar Aggarwal, Director of AR Industries Pvt. Ltd Faridabad Haryana in cheque bounce case.
As per the case before the court, the complainant is a partnership firm with Radhey Shyam Aggarwal and Ashok Kumar Aggarwal as partners having its principle place of works/office at SIDCO Samba. The complainant firm is engaged in the manufacturer of aluminum alloy ingots and in regular business transactions with the accused company regarding the products.
The complainant company supplied products to accused vide various invoices and as per the accounts maintained by complainant, an amount of Rs 23,64,315 is due from the accused. After issuance of the cheques, accused initially requested complainant not to deposit the same immediately for encashment and later cheques were deposited in bank. However, the cheques were returned unpaid by the banker of the accused with the remarks “exceeds arrangements”.
After hearing both the sides, the CJM Samba awarded simple imprisonment for a period of six months to Subash Aggarwal and Devinder Kumar Aggarwal for the commission of offence punishable under Section 138 read with Section 141 of Negotiable Instruments Act, 1881. They have further been directed to pay fine of Rs 23,64,315 along with simple interest of 6 % per annum from the date of cheque till the date of judgment of conviction.
“In case of default of fine, the accused shall further undergo simple imprisonment for six months”, the court directed. One of the accused was taken into custody and sent to District Jail, Kathua for serving the sentence of imprisonment forth with. In respect of second accused the court issued warrants of arrest under Section 418(2) of CrPC in order to avoid undue delay in the disposal of the case.
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