Babu Reddy M v. Paramesh v
Case brief
What is this about?
Conviction under Section 138 NI Act was compounded: parties filed a joint memo recording full and final settlement, the accused deposited the fine amount of Rs.8,70,000/-, and the court permitted compounding, set aside the trial and appellate convictions, acquitted the accused, and allowed the complainant to withdraw the deposit.
What did the court decide?
Offence compounded; convictions set aside; petitioner acquitted; respondent permitted to withdraw Rs.8,70,000/- deposited; bail bond cancelled.