Excelsior Correspondent
JAMMU, Nov 3: Electricity Magistrate Jammu, Riyaz-ul-Haq Mirza today awarded 1 year and six months imprisonment and fine of Rs 10 lakh to one Vishal Mahajan, Proprietor VS Shares and Stocks in cheque bounce case.
According to the police case, complainant Lt Col Daljeet Singh Dogra purchased stocks and shares from the NSE/BSE through accused as a broker. There was an outstanding amount of Rs 19 lakh which had to be paid by the accused and he issued a cheque on November 2, 2007 of Rs 10 lakh in favour of complainant. However, the bank dishonored the cheque.
After hearing both the sides, Electricity Magistrate observed the prosecution has proved the offence beyond shadow of doubt. Accordingly, the accused was awarded imprisonment for one years and six months.
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