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1 - 3 of 3 (0.19 seconds)I.C.D.S. Ltd vs Beena Shabeer & Anr on 12 August, 2002
4. It is contended by the appellant that the contention of the accused that the cheque was issued only as a security is no longer available in the light of the decision reported in I.C.D.S. Ltd. v. Beena Shabeer, 2002 (3) KLT 218. It is further submitted that Ext. P10 ledger folio as noted by the Court below disclosed that large amounts were due from the accused. When there was a settlement of account settlement need not be recorded in the folio unless the amount is received in cash and the transaction is closed. There was no such situation in this case. Therefore, Ext. P10 was sufficient enough to conclude that Ext. P1 cheque was issued in lieu of the liability due from the accused.
Section 139 in The Negotiable Instruments Act, 1881 [Entire Act]
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