Once the amount in a dishonoured cheque is paid with interest and compensation, the payee cannot insist on criminal prosecution of the directors of a firm who issued the cheque. The object of Section 138 of the Negotiable Instruments Act, which makes … [Continue reading]
Supreme Court: Fine can’t be more than twice the amount of Cheque Bounce
Hon'ble Supreme Court of India in the matter of Somnath Sarkar vs Utpal Basu Mallick & Anr. on 7 October, 2013 1. Leave granted. The Appellant before us makes what is essentially a mercy plea – to reduce the sum of Rs.80,000/- imposed on him … [Continue reading]
Supreme Court: Power of Attorney holder can also file cheque bounce cases, if holder has knowledge
The Supreme Court has held that a criminal complaint in a cheque bounce case can be filed and pursued by a person who holds a power of attorney (PoA) on behalf of the complainant. A three-judge bench headed by Chief Justice P Sathasivam gave the … [Continue reading]
Supreme Court: Court can hear cheque bounce case at place of receipt of a cheque
Hon'ble Supreme Court of India in the matter of Nishant Aggarwal vs Kailash Kumar Sharma on 1 July, 2013 1) Leave granted. 2) The question which has to be decided in this appeal is whether the Court, where a cheque is deposited for collection, … [Continue reading]
SC: Prosecution on a successive default in payment of the cheque amount is permissible
In the matter of M S R Leathers v. S Palaniappan and another [(SC) 110 CLA 370 2012], question arose was: “ Whether payee or holder of cheque can initiate proceeding of prosecution under section 138 of Negotiable Instrument Act, 1881 for the … [Continue reading]
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