Ajayghosh B vs K.K. Sahadevan & Anr

The Supreme Court allowed the appeal and set aside the conviction of the appellant under the Negotiable Instruments Act, holding that the appellant had deposited the cheque amount of Rs. 7 lakhs in the High Court, which was permitted to be withdrawn by the respondent in full and final settlement of the dispute. The Court quashed the complaint against the appellant, establishing that settlement of the amount negates the basis for the conviction. Thus, the appeal was allowed, and the conviction was overturned.