Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown.
A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown.
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