ORDER 1. Leave granted. These appeals have been preferred by the Appellants against the Orders dated 29th April, 2013 passed by the High Court of Punjab and Haryana at Chandigarh in Criminal Revision Nos. 1426, 1427 and 1428 of 2013 whereby the High Court rejected the revision applications preferred by the Appellants while affirming the order of conviction and sentence passed against them. 2. Respondent-complainant-Punjab State Civil Supplies Corporation Limited (hereinafter referred to as 'Supply Corporation') supplied paddy to the Appellant No. 2 firm from custom milling. Appellant No. 1 is the partner of Appellant No. 2 firm. It is alleged that the Appellants misappropriated the supplied paddy and issued the post dated cheques (six in number for total amount 1,03,45,750/-)to the Respondent-Supply Corporation as security, on presentation, got dishonoured. It is further alleged that the cheque amount was not paid in spite of demand notice. 3. Pursuant to three complaints with respect to different cheques filed by the Corporation the Trial Court convicted the Appellant Under Section 138 of the Negotiable Instruments Act, 1881 and sentenced him to undergo rigorous imprisonment for two years and to pay a fine of Rs. 2,000/- separately in these complaints. On appeals, Additional Sessions Judge reduced the sentence to imprisonment for one year in each case. 4. Feeling aggrieved, the Appellants preferred the Revision Applications before the High Court which were rejected by the impugned order. 5. On 5th May, 2012, this Court issued notice on Respondent confined to the question as to whether the Appellants will suffer imprisonment for one year each for the three offences or whether all the sentences will run concurrently. 6. On appearance of the complainant, it was brought to the notice of this Court that vide order dated 31.7.2014 passed by the Additional District Judge, Patiala in an Execution Petition in arbitration matter an amount of Rs. 1,13,37,250/- was ordered to be set off against the award amount which is to be recovered by the decree holder i.e. Respondent herein from the Appellants herein. 7. The Learned Counsel for the Appellants submitted that the said amount i.e. Rs. 1,13,37,250/- has already been paid. It is also accepted by the Learned Counsel for the Respondent/complainant. 8. The Learned Counsel for the Appellants submits that the Cheques issued were for Rs. 7. The Learned Counsel for the Appellants submitted that the said amount i.e. Rs. 1,13,37,250/- has already been paid. It is also accepted by the Learned Counsel for the Respondent/complainant. 8. The Learned Counsel for the Appellants submits that the Cheques issued were for Rs. 1,03,45,750/- which were bounced for which the complaints were filed and the Appellants were convicted Under Section 138 of the Negotiable Instruments Act, 1881. It is submitted that the amount of Rs. 1,13,37,250/- should be treated as amount adjusted by the Appellants towards principal amount and interest thereon and in view of such payment, the Appellants may be acquitted from the offences. It is further contended that with regard to arbitration amount decreed against the Appellants, the same will be paid by the Appellants separately and the amount of Rs. 1,13,37,250/- should not be treated to have been adjusted against the Arbitration Award. The Learned Counsel for the Respondent/Complainant-Corporation has no objection to the same. In view of the stand taken by the parties, we set aside the order of conviction dated 1st October, 2009 passed by the Trial Court in Complaint No. 147/148/156 of 21.09.2001 as confirmed by the Appellate Court on 27.02.2013 and the orders dated 29.04.2013 passed by the High Court of Punjab and Haryana at Chandigarh in Criminal Revision Nos. 1426-1428 of 2013 (O&M). The amount of Rs. 1,13,37,250/- be treated to have been adjusted against the amount of cheques plus interest thereon. 9. The Appellants will pay the Award amount to the Respondent within the specified period as ordered by the Arbitrator. It was also submitted that the Appellant has already undergone the sentence for a period of one year and eight months. He is in jail. In view of the aforesaid finding and submission, the Appellant shall be released forthwith, if not required in any other case. The appeals stand disposed of with the aforesaid observations and directions.