Thane Sessions Court Upholds Developers Conviction In ₹16-Lakh Cheque Bounce Case, Reduces Fine To ₹24

Thane Sessions Court upheld conviction of Shehnawaz Sarfaraz Khan, proprietor of Sagar Developers and Realtors, under Section 138 of the Negotiable Instruments Act for a Rs 16 lakh cheque bounce.

The court reduced the fine from Rs 32 lakh to Rs 24 lakh, reflecting the outstanding liability of Rs 12 lakh after accounting for partial repayment of Rs 4 lakh.

The default imprisonment was reduced from three months to two months; the six-month substantive sentence already served was left unchanged.

The entire fine amount of Rs 24 lakh, upon recovery, will be paid as compensation to the complainant.