R. Vijayan vs Baby & Anr on 11 October, 2011
28. Point No.3: As discussed in connection with Point
Nos.1 & 2, the complainant has proved its case as to
commission of the offence punishable U/s.138 of N.I. Act by
the accused. The punishment prescribed for the said offence
is imprisonment for a period which may extend to two years
or with fine. Considering the facts and circumstances of this
case, nature, year of the transaction, nature of the
instrument involved, provisions of Sec.117 of N.I. Act, cost of
litigation and the rate of interest proposed by Hon'ble
Supreme Court in 2012 (1) SCC 260 (R.Vijayan Vs Baby),
etc., this court is of the considered view that it is just and
desirable to impose fine of Rs.90,00,000/- and out of the
said amount a sum of Rs.10,000/- has to be remitted to the
State and the remaining amount of Rs.89,90,000/- is to be
given to the complainant as compensation as provided
U/s.357(1) of Cr.PC and accordingly Point No.3 is answered
in Affirmative.