2nd respondent/accused for the offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (for short ‘the Act’). The allegations in the complaint would disclose that the accused is alleged to have borrowed an amount of Rs.1,30,000/- from the complainant to meet his family expenses and executed a pronote promising to repay the amount with interest at 24% per annum. Subsequently, on repeated demands, the accused is said to have issued a cheque bearing No.569725 dated 25.08.2005 for Rs.34,500/drawn on Indus Ind Bank, CDR Hospital Counter, Visakhapatnam and another cheque bearing No.161702 of even date for Rs.15,000/- drawn on Andhra Bank, Maharanipeta, Visakhapatnam in partial discharge of the loan amount. When the complainant presented both the cheques for collection, they were returned on 29.08.2005 with an endorsement “funds insufficient”. After complying with the statutory requirements, a private complaint came to be filed for an offence punishable under Section 138 of the Act.
