E-Paper
Zirakpur man sentenced to two-year jail in cheque bounce case; to pay ₹46 lakh compensation to friend
The court observed that frauds of general nature in the garb of friendly relations should not be so conveniently executed in the society
Observing that frauds of general nature in the garb of friendly relations should not be so conveniently executed in the society, the district court directed a Zirakpur resident to pay a compensation of ₹46 lakh to a city resident. The amount is double the cheque amount of ₹23 lakh which was dishonoured.
Vineet Vermani, a resident of Sector 34 D, Chandigarh, had filed a complaint under Section 138 of the Negotiable Instruments Act, 1881, against Sushant Sood of Baltana, Zirakpur.
He had said in the complaint that he and Sood were childhood friends and even their fathers had been friends for over 22 years.
Vermani, who is the proprietor of an industrial mill store M/s National Ball Bearing & Machinery Store, Phase 5, Mohali, was contacted by Sood and his father in the first week of June 2013 for obtaining financial assistance, which was ‘urgently required’ by the Sood family in order to come out of a financial crisis.
Accordingly, a sum of ₹14 lakh was given to Sood by Vermani in 2013. Then in March 2014, Sood again requested Vermani for ₹9 lakh, which was also paid by the latter.
After years of following up, Sood finally issued a cheque of ₹23 lakh to Vermani, but it was dishonoured due to ‘insufficient funds’.
In the court, Sood said he was innocent and had been falsely implicated. He counter alleged that Vermani had misused blank cheques given to him as security.
After hearing the arguments, the court directed the accused to pay to Vermani an amount double the cheque amount of ₹23 lakh. The court also awarded rigorous imprisonment to Sood for a period of two years.