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This complaint is instituted by the complainant against the accused under Section 200 of Cr.P.C. for the offence punishable under Section 138 of Negotiable Instruments Act- 1881 R/w Section 25 of the Payment and Settlement Systems Act, 2007.

2. The Case of the complainant as per complaint averments is as follows:

The complainant is a company incorporated under the companies Act, 1956 and a Banking Company. In the course of SCCH-10 their financial services, they introduced Digital Personal Loan facility for the benefits of its valued customers. The accused had approached the complainant company to sanction loan for his urgent financial needs. Accordingly, the complainant sanctioned the loan of Rs.68,000/- under said Digital Personal Loan facility vide Loan Account No.44922 and the accused had opted for repayment mode vide Electronic Clearing Service by signing ECS / NACH declaration. Further, under the contract a sum of Rs.71,512/- was due and towards payment of debt accused had issued ECS/ NACH. Transaction bearing UMRN No.BARB7020202230022277 presented for encashment to Axis Bank Ltd, Cox Town Branch, Bengaluru, same was dishonoured with the remarks "Balance insufficient" on 09.11.2023. Then, the complainant got issued a legal notice to the accused dated 20.11.2023, calling upon him to pay the amount. Despite receipt of notice, the accused has not paid the amount. Thus, the accused has committed the offence punishable U/Sec.138 of Negotiable Instruments Act R/w SCCH-10 Section 25(1) of the Payment and Settlement Systems Act, 2007. Hence, this complaint.

POINT NO.1: In the Affirmative.

POINT NO.2: As per the final order, for the following:

SCCH-10 REASONS

9. POINT NO.1: According to the complainant, the accused approached the complainant company for financial assistance for his urgent financial needs and the complainant company sanctioned the loan of Rs.68,000/- and the accused has opted for repayment mode vide ECS/NACH and under contract a sum of Rs.71,512/- was due and payable by the accused and and when the ECS/NACH was presented, same was dishonoured for the reason 'balance insufficient' and the complainant got issued a legal notice to the accused calling upon him to pay the said amount and despite service of notice, the accused has not paid the amount.

11. Now, let me scrutinize the documents relied by the complainant in order to examine the compliance of statutory requirements as envisaged under Section 138 of N.I. Act R/w Section 25, 26 and 28 of Payment and Settlement Systems Act 2007. Ex.P.1 is the Authorization letter, Ex.P.2 is the NACH report, Ex.P.3 is the Legal notice, Ex.P.4 is the Postal receipt and Ex.P.5 is the Postal acknowledgment.

12. On careful perusal of Ex.P.2 NACH report it reveals that, NACH transaction for a sum of Rs.71,511/- was failed for the reason 'Balance insufficient' in the account of the accused. Ex.P.3 is the Demand notice wherein it discloses that, after dishonour of ECS/NACH, the complainant caused a legal notice to the accused calling upon him to pay an amount of SCCH-10 Rs.71,512/-. Said notice was duly served on the accused as per Ex.P.5.

13. On perusal of Ex.P.2 and Ex.P.3, it is crystal clear that the accused has opted for loan repayment mode vide ECS /NACH and when same was presented for a sum of Rs.71,512/- same was dishonoured for 'Balance insufficient' and despite service of notice the accused has failed to make the said payment.

14. In the instant case, the accused neither cross-examined PW-1 nor lead any evidence on his behalf. The evidence tendered on oath by PW-1 remained unchallenged and unrebutted. Hence, the case put forth by the complainant has to be accepted. Therefore, this Court is of the opinion that the accused has committed an offence punishable U/s. 25(1) of the Payment and Settlement Systems Act for dishonour of NACH by not maintaining sufficient balance in his account. Hence, this Point No.1 under consideration is answered in the Affirmative.