Goa Handicrafts, Rural And Small Scale ... vs Samudra Ropes Pvt. Ltd. And Ors. on 29 June, 2005
23. The learned Counsel appearing on behalf of the Appellant thereafter relied on a judgment in the case of Alsa Constructions and Housing Limited v. M. Mal Reddy 1999 Cri LJ 2743 (supra). In this case the Memorandum of understanding was entered between the complainant and the accused by which an amount of Rs. 30,00,000/- loan was obtained and Promissory Note was executed and immovable property was also given as security. When the amount of loan was not repaid the accused issued a cheque on 8-1-1998 towards the discharge of the loan amount.