TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Petitioners fail to rebut presumptions under Sections 118 and 139 NI Act for dishonoured advance cheques with admitted signatures</h1> <h3>SSM Engineers Pvt. Ltd. & Anr. Versus The State (GNCT of Delhi) & Anr.</h3> 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 ... Dishonour of Cheque - cheque issued as advance cheques and not to discharge any legally enforceable debt - admission of signature on the cheque - discharge of evidential burden to rebut the statutory presumptions under Sections 118 and 139 of the Negotiable Instruments Act - it was held by High Court that 'upon a consideration of the totality of circumstances, it is evident that the petitioners have failed to rebut the presumptions under Sections 118 and 139 of the NI Act.' HELD THAT:- Issue notice for the purposes of exploring the possibility of compounding, returnable in six weeks. Subject to the deposit, the effect and operation of the impugned judgment shall 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.'
TaxTMI 
TaxTMI 
