PANAJI
The Judicial Magistrate First Class (JMFC) Court, Mapusa, has convicted a Pernem resident in a Rs 19 lakh cheque bounce case, holding that the accused failed to rebut the legal presumption that the cheque was issued towards a valid debt and had shown no interest in repaying the complainant despite being given ample opportunity.
In its judgment pronounced on Monday, Magistrate Jude Torex Sequeira sentenced Milind Kolwalkar to six months’ simple imprisonment and directed him to pay compensation of Rs 19 lakh to VPK Urban Co-Operative Credit Society Ltd within 30 days. In default, he would have to undergo an additional 30 days of simple imprisonment.
As per case details, the complainant society had granted Kolwalkar a loan of Rs 14 lakh after he approached the society, citing financial difficulties. Towards repayment, he allegedly issued a cheque dated August 8, 2024, for Rs 19 lakh drawn on The Catholic Syrian Bank Ltd, Panaji branch.
The cheque, when presented through Saraswat Co-Operative Bank’s Porvorim branch, was returned unpaid with the remark “Account Blocked”.
The court noted that despite receiving a legal demand notice dated August 28, 2024, the accused failed to clear the dues, leading to prosecution under Section 138 of the Negotiable Instruments Act.
The court observed that the accused neither denied his signature on the cheque nor disputed that the cheque belonged to his account. “The accused has failed to prove any of his defences to be probable in order to rebut the statutory presumption in favour of the complainant that the cheque was issued towards the legally enforceable debt,” the court held.
The court recorded that the accused was given sufficient time to make payment, but failed to do so and attempted to delay the proceedings.
Observing that “no leniency can be shown”, the court ordered imprisonment along with compensation as a deterrent in such cases.
