CHANDIGARH: The Chandigarh district court has awarded two years' rigorous imprisonment (RI) to a Sector 8-A resident in a cheque bounce case and also directed him to pay a compensation of Rs 67 lakh - the amount equivalent to cheques.
The court of Nazmeen Singh, JMIC, awarded the jail term to Ajay Kapoor for the offence punishable under the Negotiable Instruments Act, 1881, and told him to pay the said amount within a period of one month.
A complaint against the convict was filed by M/s Tiara Jewels Pvt Ltd in Sector 22-D, Chandigarh through its one of the directors, Jawahar Jain. On October 23, 2017, Ajay Kapoor, who is known to Jain, bought jewellery worth Rs 67 lakh. He issued three cheques of Rs 20 lakh (dated October 28, 2017), Rs 23 lakh (October 30, 2017) and Rs 24 lakh (November 4, 2017). But, the cheques were dishonoured by the banker with "insufficient funds" remark.
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