Jai Prakash v. Union Bank of India
Case brief
What is this about?
Petitioner challenged conviction under Section 138 via criminal revision. Court accepted compromise via One Time Settlement, applied precedent to compound offence after conviction, quashed lower judgments, and acquitted petitioner.
What did the court decide?
Impugned judgments quashed and set aside; petitioner acquitted; release warrants directed; petitioner directed to deposit 2% of cheque amount as compounding fee.