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Man Sentenced to 2 Years in Jail and Rs 10 Lakh Fine in Cheque Bounce Case
Srinagar, Apr 08 (PK): A local court has handed down a two-year prison sentence and imposed a penalty of Rs 10 lakh on an individual in a cheque bounce case. The Court of Special Magistrate (PT&E) found the accused guilty under section 138 of the Negotiable Instrument Act.
The accused, identified as Altaf Hussain Rather, has been sentenced to two years of simple imprisonment. In addition, a fine of Rs 10 lakh, which is double the amount of the bounced cheque, has been imposed, with the judge, Fariqa Nazir, ordering that the fine be paid as compensation to the complainant.
“A fine of Rs 1000000 (Rupees ten lacs) which is double the cheque amount is also imposed upon the accused. The fine of Rs 1000000(Rupees ten lacs) so imposed shall be paid as compensation to the complainant,” the judge Fariqa Nazir said, in an order, a copy of which is in possession of news outlet—ProKashmiri.
The verdict serves as a stark reminder of the serious consequences of issuing a bounced cheque, which is a criminal offense under the Negotiable Instrument Act. It underscores the importance of ensuring adequate funds in bank accounts before issuing cheques to avoid legal repercussions and financial liabilities.
The court’s decision to impose a substantial penalty on the accused serves as a strong warning against financial irregularities and emphasizes the significance of honoring financial commitments. The verdict sends a clear message that cheque bounce cases will be dealt with strictly in accordance with the law, upholding the credibility of the banking system and safeguarding the interests of complainants.
It is imperative for individuals and businesses to be aware of the legal implications of issuing a bounced cheque and to fulfill their financial obligations in a timely and responsible manner. Failure to do so can result in severe legal consequences, including imprisonment and hefty fines, as demonstrated in this case.
The court’s verdict in this cheque bounce case serves as a deterrent to potential perpetrators of such fraudulent activities. It highlights the need for caution and prudence in financial transactions, including issuing cheques, to avoid legal entanglements and uphold the integrity of the financial system.
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