Archive · 26 Jun 2025
Mumbai Court Acquits Man in ₹20 Lakh Cheque Bounce Case
A man in Mumbai was found not guilty in a case where a cheque bounced.
Someone had given him a loan, but the court said it was a loan that was against the rules.
This is because the person who gave the loan was charging a high interest rate and didn't have the correct permission to lend money.
The court decided that because the loan was illegal, the man didn't have to pay back the cheque.
It's like the loan never legally existed, so the cheque bounce didn't matter.
A Mumbai court acquitted a man in a cheque bounce case.
The case involved a loan of ₹20 lakhs with an 18% interest rate.
The court ruled the loan was an illegal money lending activity.
The complainant did not have a money lending license.
The court cited that the debt wasn't legally enforceable.
- Who
- Rajkumar Krishnani (accused) and Sarika Bedi (complainant).
- What
- Acquittal in a cheque bounce case due to illegal money lending.
- When
- The verdict was recent, though the loan was issued in 2017, and the cheques bounced in 2019.
- Where
- Mumbai, India.
- Why
- The court determined the loan was illegal, making the debt unenforceable.
Complainant
Defendant
Legality of the Loan
Complainant
The loan was legitimate and the cheques should have been honored.
Defendant
The loan was illegal because it violated money lending regulations and the cheques are unenforceable.
- Accused
- Rajkumar Krishnani
- Complainant
- Sarika Bedi
- Loan Amount
- ₹20 lakhs
- Interest Rate
- 18% per annum
- Legal Act
- Negotiable Instruments Act, 1881 and Maharashtra Money Lending (Regulation) Act, 2014
- Court
- JMFC court, Bandra