In Brief
Ashis Subba was convicted under Section 138 of the Negotiable Instruments Act for issuing a dishonoured cheque for Rs. 8,53,531.51 in a property sale transaction dispute with Manoj Kumar Agarwal. The trial court sentenced him to one year imprisonment and a fine; the High Court upheld this conviction. However, when the matter came before the Supreme Court, both parties submitted a signed Memorandum of Settlement dated 11 November 2017, agreeing to settle the dispute amicably with the appellant paying Rs. 8,50,000 by demand draft within 60 days. The Supreme Court accepted the settlement, set aside the High Court's order, quashed the sentence, and disposed of the appeal.
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