Petitioners fail to rebut presumptions under Sections 118 and 139 NI Act for dishonoured advance cheques with admitted signatures SC affirmed HC's finding that petitioners failed to rebut presumptions under Sections 118 and 139 NI Act where cheques issued as advances were dishonoured ...
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Petitioners fail to rebut presumptions under Sections 118 and 139 NI Act for dishonoured advance cheques with admitted signatures
SC affirmed HC's finding that petitioners failed to rebut presumptions under Sections 118 and 139 NI Act where cheques issued as advances were dishonoured and signatures admitted. The Court issued notice to explore compounding, returnable in six weeks, and directed that, subject to deposit, the effect and operation of the impugned judgment remain stayed.
Petitioner has deposited Rs. 15,00,000 of the cheque amount of Rs. 25,00,000. Balance cheque amount of Rs. 10,00,000 to be deposited within one week, and the compensation amount of Rs. 25,00,000 to be deposited within a further period of six weeks. Court directs: "Issue notice for the purposes of exploring the possibility of compounding, returnable in six weeks." Subject to the aforesaid deposit, "the effect and operation of the impugned judgment shall remain stayed."
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