Thane: The Thane’s Additional Chief Judicial Magistrate, A.D. Margode, has convicted businessman Nitin Tawade under Section 138 of the Negotiable Instruments Act for cheque dishonour. The court sentenced Tawade to imprisonment and imposed a Rs 20 lakh fine, failing which he will face an additional six months in jail.
Tawade had borrowed Rs 17 lakh from Santosh Palshikar, who represented his minor daughter as the complainant. While Tawade repaid Rs 3.05 lakh via NEFT, four of the six cheques he issued, each for Rs 2.5 lakh, were dishonoured.
The court upheld all five legal requirements for conviction, including issuance of cheques against a legitimate debt, timely presentation, dishonour, legal notice, and non-payment. The entire fine is to be paid as compensation to the complainant within three months, the order stated.
