JUDGMENT :- Learned counsel for the petitioner/accused, learned counsel for the respondent (Bicholim Urban Co-operative Bank) and counsel for the State are present. Heard finally at the stage of admission by consent. 2. This proceeding is filed under section 138 of the Negotiable Instruments Act 1881. The J.M.F.C, Panaji has held the accused guilty and convicted him under section 138 of the N.I. Act and sentenced him to undergo simple imprisonment for six months and to pay compensation of Rs.97,000/- to the complainant and in default to undergo simple imprisonment for one month. The said judgment and order of the JMFC dated 10/3/2010 was challenged before the learned Sessions Judge, and the Addl. Learned Sessions Judge by his judgment and order dated 2/8/2011 confirmed the order of the JMFC and dismissed the appeal. Being aggrieved by the said order of the Addl. Sessions Judge, the petitioner/accused has filed this criminal revision against the respondent bank. 3. At the time of hearing of this revision, learned counsel for the petitioner/accused had admitted that the applicant had borrowed the amount of Rs.97,000/- from the respondent bank in the year 2008. However, during the span of last 7 years, the petitioner has deposited small amounts towards the repayment of this loan from time to time. Till today, the petitioner has deposited Rs.1,48,086/-. Learned counsel for the respondent submits that in the month of July 2013, a proposal of settlement was moved by the parties and at that time, the outstanding was shown as Rs.37, 277/-. Out of the said amount, the petitioner accused was ready to deposit the amount of Rs.10,000/-. However, the bank did not accept the said proposal. Today also the petitioner is ready to deposit the said amount so that the matter can be settled amicably. 4. Learned counsel for respondent bank has submitted that till today the petitioner has deposited the total amount of Rs.1,48,086/-. This fact is confirmed and verified from the statement of account of the bank. From the total due amount of Rs.37,277/-, the bank was ready to settle for Rs.20,000/-. Today also the bank is willing to settle the dispute amicably if reasonable amount is paid. 5. After hearing both the learned counsel, they were asked to take instructions of their respective clients by way of via media if they can settle the matter by paying amount of Rs.15,000/-. Today also the bank is willing to settle the dispute amicably if reasonable amount is paid. 5. After hearing both the learned counsel, they were asked to take instructions of their respective clients by way of via media if they can settle the matter by paying amount of Rs.15,000/-. Learned counsel for both parties have thereafter taken instructions from their respective client and today they have made a statement in the Court that both the parties are agreeable at the amount of Rs.15,000/-. Learned counsel for the petitioner/accused submits that the petitioner/accused has brought cash of Rs.15,000/- and he seeks permission to deposit the said cash in the registry of this Court. Thus, in view of this and as it is agreeable to the counsel of the respondent, the petitioner is permitted to deposit the said amount in the registry. Registrar (Judicial) to accept the amount of Rs.15,000/- (Rupees Fifteen thousand only). The respondent bank is allowed to withdraw the said amount without moving any application to this Court. 6. Under Section 147 of the N.I. Act, offence under section 138 of the Act is compoundable. In view of this, orders passed by the learned Magistrate dated 10/3/2010 and the learned Sessions Judge dated 2/8/2011 thereby convicting the accused are quashed and set aside. The petitioner/accused is acquitted for the offence punishable under section 138 of the N.I. Act. Surety discharged. Bail Bonds stand cancelled. Ordered accordingly.