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1 - 3 of 3 (0.14 seconds)Shri Ishar Alloy Steels Ltd vs Jayaswals Neco Limited on 22 February, 2001
3.Sri.S.K.Srinivasan, learned counsel appearing for the petitioners firmly
submitted that the complaint cheque is dated 26.02.2000 and that it was
actually presented only on 28.08.2000 and it came to the drawer's bank viz.,
Bank of Madura, on 30.08.2000. Though the cheque ought to have been returned
on the ground that it was presented beyond the due date, it was returned with
an endorsement ''Account Closed''. The learned counsel appearing for the
petitioners placed reliance on the decision of the Hon'ble Supreme Court
reported in 2001 (1) CTC 616 [Ishar Alloy Steels Ltd. Vs. Jayaswals NECO
Ltd.], wherein the Hon'ble Supreme Court had categorically held that the
offence under Section 138 of the Negotiable Instruments Act, would be made
out only if the cheque in question is presented before the drawer's bank
within a period of six months from the date on which, it is drawn or within
period of its validity, whichever is earlier.
Section 482 in The Code of Criminal Procedure, 1973 [Entire Act]
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