heeds the absurd and stressful situation, fast
becoming common-place where several cheques signed by the same drawer are
presented for encashment and requisite notices ... Birbhum at Suri, West Bengal for the dishonour
of a number of cheques issued by the accused-company which had its
headquarters in Ernakulam, Kerala
required to tender the payment
awarded by the MACT by issuing cheques in the name
of the claimant(s) unless and until a stay order ... MACT award within
a week of receipt of such orders and cheques should be
retained for being given to the claimant.
(d) Once the amount
Negotiable Instruments Laws (Amendment) Act, 1988, to enhance the
acceptability of cheques in settlement of liability by making the drawer
liable for penalties in case ... bouncing of cheques due to insufficiency of
funds, the desired object of the Amendment Act has not achieved.
4. Legislature has noticed that the introduction
which the appellant was a Director at the
relevant time and several Cheques (119 in number) issued by M/S Elite
International Pvt. Ltd. aggregating ... conduct of business of the Company, particularly in the
issuance of the cheques in question. As a matter of fact, the appellant had
resigned
liability and towards
repayment of the amount due, the said Company issued cheques in favour of
the appellant. On 2/8/2011, when the appellant ... presented the said cheques
to its banker – Canara Bank, the same were returned unpaid with the remark
“Insufficient Funds”. On 20/8/2011, the appellant
consideration in this appeal
by special leave is, whether the post-dated cheques issued by the
appellants (hereinafter referred to as ‘purchasers’) as an advance ... debt or other liability, and, if so, whether the dishonour of
such cheques amounts to an offence under Section 138 of the Negotiable
Instruments
case
of the complainant/appellant that the respondent/accused issued several
cheques drawn on Canera Bank, Raja Garden, New Delhi towards payment
of the aforesaid ... loan amount. The cheques, when presented to the bank,
were dishonoured for want of payment. After serving statutory notice upon
the respondent/accused, the appellant
shares and, in return for extension of time, offered to give cheques as
surety for the value of shares being ... interest of the appellant, the respondents
offered to replace the previous cheques dated 30/09/2002 with fresh cheques
securing the value of 7500 shares
cheque was drawn on Punjab National Bank, Mall Road, Delhi. Both
these cheques were deposited by the complainant with his banker, but
the first cheque ... lakh dated 24.1.2005 is alleged to
have been issued later. The aforesaid cheques were presented to the
bank. Yet another cheque, this time
ADPL.
3. It is stated that ADPL handed over the following six cheques dated
24th February 2007 to IBPL towards the payment of the consideration ... aforementioned six cheques were dishonoured and complaints
were filed under Section 138 of the Negotiable Instruments Act, 1881
(„ NI Act ‟) which were dismissed
