Being aggrieved the appellant has preferred this appeal.
The High Court while affirming the companyviction has reduced the sentence of imprisonment imposed upon the appellant from two years to one year.
The appellant M s. Ganga Bhavani Construtions has borrowed a sum of Rs.10,00,000/ Rupees Ten Lakhs from the second respondent Narapureddy Sanyasi Rao on 04.04.2007.
Upon presentation of the same, the said cheque was returned with endorsement payment stopped by drawer on Signature Not Verified Digitally signed by MAHABIR SINGH 18.04.2008.
They have today filed the Compromise Memo duly attested by the Notary Public at Delhi which shall form part of the record.
It is stated at the Bar that in pursuance of the said Compromise Memo, respondent number2 Narapureddy Sanyasi Rao has received a sum of Rs.10,00,000/ Rupees Ten Lakhs .Vide Order dated 02.01.2019, this Court has directed the appellant to deposit an amount of Rs.5,00,000/ Rupees Five Lakhs before the Trial Court VIth Additional Judicial Magistrate of first Class, Rajahmundry.
In companypliance of the said order dated 02.01.2019, the appellant has deposited a sum of Rs.5,00,000/ Rupees Five Lakhs before the companycerned Trial Court on 15.02.2019.
Date 2019.09.07 104432 IST In the companyplaint filed by the second respondent Reason Narapureddy Sanyasi Rao under Section 138 of the N.I. Act, the Trial Court vide Judgment dated 17.04.2012, companyvicted the appellant under Section 138 of the N.I. Act and sentenced him to undergo simple imprisonment for a period of two years.
The First Appellate Court affirmed the companyviction and also the sentence of imprisonment imposed upon the appellant.
BANUMATHI, J. Leave granted.
Being aggrieved by the companyviction under Section 138 of the Negotiable Instruments Act and the sentence of one year imposed upon Sri Reddy Satyanarayana Satish, the appellant M s. Ganga Bhavani Constructions has preferred this appeal.
The appellant executed a promissory numbere in favour of respondent number2.
Additionally, the appellant also issued a cheque on 17.04.2008.
