K Ganesh vs V.C.Thangamagan — 447/2026

Case Summary: K Ganesh v. V.C. Thangamagan (447/2026) The Additional District Judge at Chengalpattu allowed petitioner K Ganesh's application under Section 148 of the Negotiable Instruments Act to release Rs. 4,20,000 (20% compensation deposit) held by the trial court. The respondent had been convicted under Section 138 N.I. Act and directed to pay Rs. 21 lakh compensation; he deposited 20% as a condition for suspending his sentence pending appeal. The court held that the appellate court has exclusive power to release such deposits and, applying Section 148 provisions, permitted immediate release to the petitioner, with the condition that if the respondent is acquitted in the pending appeal, the petitioner must redeposit the amount with accrued bank interest. This case analysis is maintained by casestatus.in based on publicly available court records.