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Record perused. Submissions heard.

As per the complaint, the Complainant has filed the present complaint against, Accused who had approached the complainant for availing the loan. The Accused had approached the complainant company for availing the credit facility. For clearing the dues, the Accused opted for ECS/ NACH for initiation of transfer towards the due amount, which however could not be executed. The NACH has been issued under the signatures of Accused Pursuant to the same, the complainant issued a legal demand notice. Despite service of the legal notice, the accused did not make the payment of the said amount towards the legally recoverable liability within the statutorily prescribed period. Hence, the present complaint has been filed seeking prosecution of the accused, for the offence punishable under Section 25-27 of the Payments and Settlement Act, 2007.