Thane Sessions Court Upholds ₹4 Lakh Fine Against 70-Year-Old In ₹2 Lakh Cheque Dishonour Case, Rejects Stock Market Loss Defence

In a recent decision, the Thane Sessions Court has upheld a ₹4 lakh fine against Jaiprakash Govind Gavkar, a 70-year-old retired man, in a case involving a dishonoured cheque of ₹2 lakh. The court rejected Gavkar's defence that the cheque was issued in payment of a legally enforceable debt, stating that he had failed to provide any documents to substantiate this claim.

The court's decision was based on the fact that Gavkar had not shown any evidence of how the money from the complainant, Rajan Balkrishna Pore, was invested in the stock market or used afterwards. The complainant had specifically requested documents showing investment in the share market, but Gavkar did not provide them. The court also noted that Pore had informed the court that he had not opened a Demat account at the time of the transactions, neither did he open it within a year after the evidence was given.

Therefore, the court ruled that there was no proof of stock market losses that would have been incurred by Pore. Gavkar had originally claimed that the dispute arose from stock market investments, asserting that the complainant was seeking to recover losses from his share market transactions. However, the court found no evidence to support this claim, rejecting Gavkar's appeal and upholding the original fine.