138 Negotiable Instruments Act, 1881

1. Can a person, who despite having sufficient balance in his savings/current account maintained with the Bank be held liable for the offense of DISHONOUR OF CHEQUE as provided for under section 138 of the N.I.Act, 1881 2. Can a person (accused) escape the clutches of penal provisions contained in section 138 of the N.I.Act, 1881 (as amended from time to time) on the PLEA THAT THEIR WAS ENOUGH/SUFFICENT BALANCE LYING IN HIS BANK ACCOUNT TO HONOUR THE AMOUNT SO DEMANDED ? IF YES, PLEASE PROVIDE CASE LAWS ON THIS MATTER (PREFERBLY OF SUPREME COURT) - URGENTLY. 3. HOW FAR IS THE ABOVE SAID PLEA SUSTAINABLE IN LIGHT OF JUDGEMENT OF SUPREME COURT IN THE CASE OF MODI CEMENTS LIMITED vs KUCHIL KUMAR NANDI (2ND MARCH, 1998) - IN WHICH IT HAS BEEN SPECIFICALLY STATED THAT EVEN IF NOTICE IS ISSUED STOPPING PAYMENT BEFORE THE PAYER DEPOSITED THE CHEQUE IN HIS BANK, OFFENSE IS COMPLETE (ELECTRONICS AND SIDDHARTHAN CASE OVERRULED). URGENT REPLY NEEDED. ----- MAIL ME AT SAMEER_BHATIA@YMAIL.COM