Order of acquittal under Negotiable Instrument Act upheld as applicant’s financial capacity not proved

Bhavubha Bechar Sinh Chavda Vs State of Gujarat & Anr (Gujarat High Court) Gujarat High Court held that order of acquittal by Trial Court under Negotiable Instrument Act, 1881 upheld as applicant failed to prove its financial capacity of giving an amount of loan to accused. Facts- The applicant filed a complaint against the accused u/s. 138 of the Act, as the accused had taken a hand loan of Rs.15,00,000/- from the applicant. The cheques issued by the accused were dishonored and the reason mentioned in the return memo was “Funds Todays Opening Balance Insufficient”. The applicant sent ...