A court in Maharashtra’s Thane district has directed a businessman to pay double the amount Rs 4 lakh in a cheque bounce case. He will undergo rigorous imprisonment for three months if the money is not paid, said the court.
The order was passed by Thane Judicial First Class Magistrate Rajesh Patki on May 2, a copy of which was made available on Friday.
Advocates Baldev Rajput and Priyanka Dafle who represented complainant Abhimanyu Mansukh told the court that their client and the businessman Ratnakant Gupte, proprietor of Globe Overseas Services, were friends.
They said the complainant on July 20, 2011, had given a loan of Rs 2 lakh to the Gupte. In July 2018, Gupte issued a cheque of Rs 2 lakh in the name of the Mansukh but the bank dishonoured it citing “insufficient funds”, the court was told.
The complainant said he could not get back his money from Gupte despite attempts.
The court held Gupte guilty under Section 138 of the Negotiable Instruments Act and directed him to pay double the cheque amount Rs 4 lakh. He will undergo rigorous imprisonment for three months if the amount is not paid, said the court.