File / Penalty U/s 138 NIA

 THE JUDGE CAN ORDER TO PAY PENALITY UPTO  TWICE THE CHQ AMOUNT, YOU CAN FILE A MEMO TO THAT EFFECT TO CLEAR ALL YOUR EXPENSES AS SOME REASONABLE AMOUNT I.E 12% SIMPLE INTEREST. DONOT ASK PUNISHMENT TO ACCUSE, SINCE THE MATTER IS UNDER COMPROMISE.

Well answered by My friend Reddy.

In my opinion you should also preferr a money suit against the company claiming damages and future pendentilite. There is no bar for the same. 

But it should not be a time barred debt.

 donot invite civil litigation when there is way to settle in Criminal case.

 Have you demanded interest in the complaint? If not and the trial has started, I don't think you can demand it now by making another application.

Since it is DISCRETION, anything is possible.

Amount of cheque, twice the amount of cheque, fine, compensation, imprisonment OR in the opinion of the MAGISTRATE (LEARNED AS WE PREFER TO CALL HIM) ACQUITTAL.

If the things have not been claimed in the complaint the magistrate may not grant the same as it is not a recovery court it is the criminal trial which the magistrate is bound by the complaint he can not act beyond the complaint. 

 May/shall/should/can are all relative to a magistrate. He may pass an order that is not sustainable in law, but, what is the remedy. Go in appeal. What will happen to the Magistrate? While throwing out his judgement, the HC/SC will still call him LEARNED MAGISTRATE.

Tradition, courtesy, legal expression.

dear Naresh, the amount respondent/ accused  agree to pay in respect of the cheque amount  but you can prayed for the interest of the delayed period . the accused/respondent is liable for punishment under the act for dishonouring of cheque , when you not compromised the matter with the accused/respondent . in this condition definately the accused/ respondent shall pay you the interest amount to save him from punishment.

Subhash Kumar,Adv

 Is it within the powers of the magistrate to order suo moto payment of interest even though the complainant has not asked for interest in the complaint? 

Plz note that the offence is made compoundable by insertion of new section as per amended N.I. Act. Hence a wise accused would simply pay off "only" the dishonoured Cheque amount (any time during the case proceedings - even at the last minute) and walk away merrily from the case. The Court's hands and the Complainant's hands are tied by the said recent amendment.

In other words agreement of the complainant or the order of the court is not required? How shall the accused approach? Move and application before the court he is prepared to pay the complaint amount and the case be compounded? What is the step by step move?

sir, My friend given cheque of 3lakhs as security, his debt remain only 1 lakh to finance company

company filed case u/s 138.on what ground now he can proceed.till now he not received summon.