This Court in catena of cases has held that when a notice is sent by registered post and is returned with postal endorsement “refused” or “not available in the house” or “house locked” or “shop closed” or “addressee not in station”, due service has to be presumed Jagdish Singh v. Natthu Singh [1992] 1 SCC… Read More »
whether in the facts of the present case, the dishonour of a post-dated cheque given for repayment of loan installment which is also described as “security” in the loan agreement is covered by Section 138 of the Negotiable Instruments Act, 1881 (“the Act”). Held Dishonour of cheque in the present case being for discharge of… Read More »
Section – 4, NEGOTIABLE INSTRUMENTS ACT, 1881 ” Promissory note “ 4. A ” promissory note ” is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or… Read More »
Section – 5, NEGOTIABLE INSTRUMENTS ACT, 1881 ” Bill of exchange “ 5. A ” bill of exchange ” is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to… Read More »
Held In our view, Section 138 of the Act does not admit of any necessity or scope for reading into it the requirement that the directors of the Company in question must also be issued individual notices under Section 138 of the Act. Such directors who are in charge of affairs of the Company and… Read More »
The Negotiable Instruments (Amendment) Bill, 2015 notified; Focus on clarifying the jurisdiction related issues for filing cases for offence committed under Section 138 of the Act The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent… Read More »
THE GAZETTE OF INDIA EXTRAORDINARY PART II — Section 1 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 29th December, 2015/Pausha 8, 1937 (Saka) The following Act of Parliament received the assent of the President on the 26th December, 2015, and is hereby published for general information:— THE NEGOTIABLE INSTRUMENTS (AMENDMENT) ACT, 2015… Read More »
whether a person simply being a Director of a Company is liable to be prosecuted by virtue of the provisions of Section 141 NI Act or the person who at the time of offence was in charge of and was responsible to the company for the conduct of the business of the Company would be… Read More »
Where a cheque was deposited in drop box of Kotak Mahindra Bank and it was stolen and fraudulently encashed by someone through a fictitious account opened in Bank of Baroda. In such a case both Banks were liable for deficiency of services and were directed to pay Rs. 1 lakhs each as compensation to the… Read More »
Section 138, read with section 141, of the Negotiable Instruments Act, 1881 Subject :-Dishonour of cheque for insufficiency etc., of funds in account Facts of the Case :- Appellant had filed a complaint against accused company and its directors for dishonour of cheque issued by it .High Court by impugned order quashed proceedings in respect… Read More »