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prabodh kumar patel (advocate)     14 November 2008

138 NI Act, cheque issued against EMI.

Whether cheques issued against EMIs comes within the purview of Sec 138 NI Act.

With Citation, preferably of Supreme Court, if any.

Thanks



Learning

 2 Replies

prashanth (Law Officer)     15 November 2008

in 138 cases the borower has issued a cheeque for clearance of his debt, now the judgements is pranounced and accused is acquitted. i am for the complainant company. in the judgement signature is admitted and cheque is admitted by accused but we are not filed company amalgamation order and statement of account for proof of debt,and resolution of company is also not produced, once admitted the cheque there is a question to prue the debt? i need opinion for this and it is fit for appeal or not? if possible with some citations or rulings of SC/HC

N.K.Assumi (Advocate)     15 November 2008

Dear Sir, issue is whether the cheque was bounce? For latest SC rulings see M.M.T.C Ltd vs Medical Chemicals and Pharma (P) Ltd., (2002) 1 SCC 234, A.V.Murthy vs B.S.Naga Basavanna (2002) 2 SCC 642 and State farm Corpn of India ltd Vs Nijjer Agro Foods ltd AIR 2006 SC 679.


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