issued as security, had
been misused by petitioner No. 1s' Company.
b) In this regard, it was submitted that security cheques had been
acknowledged ... cheques for payment, the issuance and delivery of any such cheques
would be meaningless and futile, if not absurd."
Therefore, merely because security cheques
account payee cheques drawn on HDFC Bank Limited,
Stephen House Branch, Kolkata. On 18.12.2018 when those
said cheques were deposited, all 4 cheques were dishonored ... security cheques
and the petitioner did not have any existing legally
enforceable debt.
7. Now, whether those cheques were issued as security cheques
account payee cheques drawn on HDFC Bank Limited,
Stephen House Branch, Kolkata. On 18.12.2018 when those
said cheques were deposited, all 4 cheques were dishonored ... security cheques
and the petitioner did not have any existing legally
enforceable debt.
7. Now, whether those cheques were issued as security cheques
legally enforceable debt" or were "blank
security cheques" issued to safeguard a fluctuating credit
line, thereby precluding a cause of action under ... petitioners further contended that the instruments in
question were "blank security cheques" issued to safeguard a
fluctuating credit line and were never intended
further submitted that the monotonous plea of issuing cheques
as security and not for the reason of discharging legal liability, has been
clearly discarded ... total sum of Rs 2
crores and six cheques were issued as security. The High
Court had held that since under the loan agreement
petitioners
that all the cheques were undated and such undated cheques would simply
prove that the cheques were issued as security. Learned Advocate
appearing ... fact that such cheques were undated, it cannot be
said that the said cheques were issued as security and without having
any existing debt
complainant, who agreed to advance the same
against blank cheques furnished as security.
11. According to the accused, an undated blank cheque had been delivered ... defence founded upon absence of
foundational transaction, alleged misuse of security cheques, and non-
service of statutory notice owing to circumstances beyond the control
business relationship.
8. Problems started when the supplier began using some security
cheques given by the petitioner without informing him.
9. Suddenly, on 12th November
defence also included assertions of having signed blank papers and
cheques as "security" for an earlier, unspecified transaction, or even that
his cheque ... illicitly completed; an assertion that he signed blank
papers and cheques as "security" for an earlier transaction; moreover, a
further claim that
business relationship.
8. Problems started when the supplier began using some security
cheques given by the petitioner without informing him.
9. Suddenly, on 12th November
