Criminal Appeal Dismissed for Lack of Proof in Section 138 NI Act Case

Kakinada Chit Funds (P) Ltd Vs Chukkala Satyanarayana and Another (Andhra Pradesh High Court) Andhra Pradesh High Court held that the complainant miserably failed to prove the offence under Section 138 of the Negotiable Instrument Act, 1881 against the respondent/accused beyond reasonable doubt. Accordingly, Criminal Appeal dismissed. Facts- The case of the complainant is that accused joined as subscriber in one of the Chits conducted by complainant in Chit Group No.KCS-1C/11 on 11.10.1999 for the chit value of Rs.1,00,000/- payable in 25 monthly installments at the rate of Rs.4,000/- p.m. com...