Mysuru, March 16:- The 4th Judicial Munsiff First Class (JMFC) Court has slapped a fine of Rs 20 lakh on a businessman in a cheque bounce case.
Sanjay, a businessman of J P Nagar in Bengaluru, had borrowed a loan of Rs 20 lakh from Sambhrama Chits in Mysuru. To repay the loan amount the businessman had submitted a cheque of Rs 13.6 lakh to Sambhrama Chits, but the cheque bounced and the issue went to court.
The court on hearing the case has asked Sanjay to pay a fine of Rs 20 lakh. (MR/KS).