Thane Businessman Sentenced for 2018 Cheque Bounce

A Thane court sentenced a businessman to one year in jail and fined him Rs 10 lakh for a 2018 cheque bounce case. He issued cheques to settle a loan but they bounced due to 'account closed'. The court dismissed his 'security cheque' defense, noting the loan acknowledgment.

A Thane court has sentenced a businessman to a year in jail and fined him Rs 10 lakh for a cheque bounce case dating back to 2018, in which the cheque was issued to settle a financial debt. The court has directed that the fine be paid as compensation to the complainant.

The accused failed to pay a loan and issued cheques which later bounced, leading to legal action. Despite receiving a loan of Rs 17 lakh for an ice cream business, he only repaid Rs 3.05 lakh. Six cheques were issued for the remainder, with two dishonored due to 'account closed'.

The businessman claimed that the cheques were for 'security' and neglected a legal notice. However, the court found no evidence for this defense, emphasizing that the repayment of Rs 3 lakh indicated a genuine loan transaction.

(With inputs from agencies.)