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Court sentences businessman, wife, partner to imprisonment in cheque bounce case
Additional Chief Judicial Magistrate NR Gajbhiye has convicted Pune-based businessman Yogesh Ajit Bafna, his wife Harsha Bafna, Rekha Gandhi and their partnership firm in cheque dishonour case
Pune: Additional Chief Judicial Magistrate NR Gajbhiye has convicted city-based businessman Yogesh Ajit Bafna, his wife Harsha Bafna, Rekha Manoj Gandhi and their partnership firm in a cheque dishonour case, sentencing the accused to six months’ simple imprisonment and imposing a fine of ₹20 lakh, which will be paid as compensation to the complainant.
The judgment was delivered on January 5 in a complaint filed by Anjali Talera under Sections 138 and 141 of the Negotiable Instruments Act.
M/S Gandhi Bafna Associates, the partnership firm, and Yogesh Bafna’s wife, Harsha and Rekha Gandhi are its partners. The family of the complainant and the accused were known to each other for the last three generations. Yogesh Bafna approached the complainant and requested to invest ₹2 crore in their business. He assured her that they have a business reputation and bank limits of ₹40 crore. The accused has assured that, if she invests the amount, she will get good returns. The complainant invested ₹1,23,00,000 in January 2017 for a limited period of 4 to 5 years.
When Talera sought the return of her investment in 2021, the accused allegedly delayed repayment. In August 2023, following police intervention at Bund Garden police station, the parties executed a notarised memorandum of understanding (MoU), under which the accused agreed to repay ₹1.15 crore and issued a post-dated cheque of ₹11 lakh towards the balance amount.
However, when the cheque dated December 31, 2023, was presented for encashment, it was returned unpaid due to “funds insufficient.” Despite the issuance of a statutory demand notice, the accused failed to make the payment, prompting Talera to approach the court.
Holding the accused guilty, Magistrate Gajbhiye observed that the issuance of the cheque and the liability were clearly established. “There is a presumption in favour of the complainant that the cheque has been issued towards the legally enforceable debt or liability,” the court said, relying on Section 139 of the Negotiable Instruments Act.
Rejecting the defence argument that the cheque was prematurely deposited, the court noted that the MoU itself acknowledged the liability and that the accused had admitted execution of the agreement.
The court further held that partners of the firm were vicariously liable for the offence. “The cheque was issued in the capacity of the accused partnership firm and signed by Yogesh Bafna and Harsha Bafna. Therefore, the partners are vicariously liable for the liability of their partnership firm,” the magistrate stated.
On sentencing, the court rejected pleas for leniency, despite submissions that two of the accused were women. “The accused were aware of the consequences of dishonour of a cheque. They could not be a ground for skipping away the punishment of imprisonment,” the order said.
The court directed that the entire fine amount be paid to the complainant as compensation after the appeal period. “The complainant had trust in the accused and invested the amount she is entitled to compensation out of the fine amount,” the judgment noted.
