M/S USHA JEWELLERS PVT LTD vs STATE BANK OF INDIA

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 04.11.2025 Judgment pronounced on: 19.12.2025 Judgment uploaded on: 20.12.2025 CRL.REV.P.(NI) 35/2024, CRL.M.A. 30497/2024, CRL.M.A. 16514/2025 & CRL.M.A. 16563/2025 M/S USHA JEWELLERS PVT LTD .....Petitioner Through: Ms. Sarita Sharma and Mr. Narendra Bhati, Advocates versus STATE BANK OF INDIA .....Respondent Through: Mr. Pardeep Bhasin and Mr. Shashwat Kumar, Advocates CORAM: HON'BLE DR. JUSTICE SWARANA KANTA SHARMA JUDGMENT DR. SWARANA KANTA SHARMA, J CRL.M.(BAIL) 1689/2024 & CRL.M.(BAIL) 1175/2025 1. The petitioner herein stands convicted for the offence punishable under Section 138 of the Negotiable Instruments Act, 1881 [hereafter „NI Act‟] by the learned Trial Court and was sentenced to undergo simple imprisonment for a period of one year along with payment of compensation amounting to ₹1,90,23,000/- (in default, simple imprisonment for three months). The appeal preferred by the petitioner before the learned Sessions Court was also 2. The scope of the present judgment is confined to the adjudication of the petitioner‟s two pending applications seeking suspension of sentence during the pendency of the capti