P R Sivashankar vs Shiksha Financial Services India Ltd, Rep by S.suresh Kumar — 17/2024

Summary of Criminal Appeal No. 17/2024 The Court allowed the appeal and acquitted P.R. Sivashankar of cheque bouncing charges under Section 138 of the Negotiable Instruments Act. Although the trial court had convicted him and sentenced one month imprisonment plus ₹50 lakh compensation, both parties filed a settlement petition during appeal proceedings; the accused paid ₹50 lakh in full and final settlement, and the complainant endorsed no objection. Following Supreme Court precedent, the court held that compounded offences under Section 147 of the NI Act must result in acquittal, thereby setting aside the conviction. This case analysis is maintained by casestatus.in based on publicly available court records.