M/S Precision Industrial Components v. M/S Shaha Polymers
Case brief
What is this about?
S.138 NI Act cheque-offence conviction compounded via joint memo; S.147 NI Act compounding; revision under S.397 r/w 401 CrPC (also captioned 438 BNSS) disposed on settlement of Rs.5,50,000/-; conditional acquittal subject to instalments with automatic restoration of six-month simple-imprisonment sentence on default (petitioner No.2/accused No.2); trial court deposit Rs.2,60,000/- released to complainant; Rs.10,000/- State defraying expenses set aside after full payment; Precision Industrial Components v. Shaha Polymers; Karnataka High Court, single judge, 2026.
What did the court decide?
Revision petition disposed of by recording the joint memo compromise (compounding of the Section 138 NI Act offence consented under Section 147 NI Act, with setting aside of conviction/sentence and acquittal sought subject to payment compliance); amount in deposit released to the complainant; Rs.10,000/- defraying-expenses component set aside upon payment of the entire agreed compensation; any default in an instalment automatically restores the imprisonment sentence against petitioner No.2/accused No.2.