CPC 138 vs 143: Damages or Imprisonment?

A person, Rohan, gives a cheque of ₹50,000 to his friend, Karan, as a loan. However, Karan misuses the funds and fails to return the money. Now, Rohan issues a cheque for ₹20,000 to Karan for a settlement, but the cheque bounces. Can Rohan be held liable under the Negotiable Instruments Act (N.I. Act) for issuing a dishonoured cheque? If so, under which section? And what's the difference in punishment if Karan had filed a complaint under Section 138 or Section 143 of the N.I. Act?