M/S. Coastal Projects Limited, v. Central Bank Of India

THE HON'BLE SRI JUSTICE RAJA ELANGO Crl.R.C.No.292 of 2016

ORDER

The present criminal revision case is directed against the order dated 25.01.2016 passed in Crl.M.P.No.119 of 2016 in Crl.A.No.24 of 2016 on the file of the Special Judge for Economic Offences-cum-VIII Additional Metropolitan Sessions Judge, Hyderabad.

2. The petitioner/A1 and other accused were convicted and sentenced to undergo simple imprisonment for two years each for the offence under Section 138 of Negotiable Instruments Act, 1881 and the petitioner/A1 was also directed to pay a sum of Rs.36 crores with interest at 9% per annum thereon from the date of cheque to the complainant as compensation within two months vide judgment dated 30.12.2015 in C.C.No.126 of 2013. Challenging the same, A1 to A4 filed Crl.A.No.24 of 2016 along with a petition seeking suspension of sentence. By the order impugned, the appellate Court while suspending the sentence of imprisonment and also payment of compensation, directed the petitioner/A1 to deposit a sum of Rs.1 crore within ten days before the Court. Aggrieved by the same, the petitioner/A1 filed the present revision.

3. Heard and perused the material on record.

4. Considering the facts and circumstances of the case and as the order of deposit of Rs.1 crore passed by the appellate Court vide order impugned appears to be huge amount, the same is liable to be set aside. In view of the same, the relevant portion of

the impugned order of deposit of Rs.1 crore within ten days before the Court by the petitioner/A1, is hereby set aside and the remaining portion of the order shall remain unaltered.

5. Accordingly, the Criminal Revision Case is disposed of. Miscellaneous Petitions, if any, pending in this revision shall stand dismissed.

______________________ JUSTICE RAJA ELANGO 29th January, 2016 sj