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Rajarathinam sentenced to one year's RI

Holambe-Patil convicted the accused under Section 255 of the Criminal Procedure Code for commission of offence punishable under Section 138 of the Negotiable Instruments Act in four different cases, concerning a sale agreement with Garware Paints.

A memorandum of understanding was signed between Garware Paints and Rajarathinam for the sale of the company. He had issued four post-dated cheques for a sum of Rs 44 million in favour of Chandrakant Garware, chairman of Garware Paints, all of which had bounced on presentation.

Following this, Anita Garware, wife of Chandrakant Garware, filed four separate cases under Section 138 of the Negotiable Instruments Act.

The magistrate sentenced the accused to rigorous imprisonment for one year each in each case and ordered each accused to pay a fine of Rs 20 million in each case. All the four sentences would run concurrently and, accordingly, both the accused would undergo rigorous imprisonment of one year each and pay a fine of Rs 80 million each.

UNI

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