Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Dishonour of cheque constituted legally recoverable debt. Petitioner convicted u/s 138 Negotiable Instruments Act. Complainant's witness, though SPA holder, competent to depose on known facts. Presumption u/s 139 NI Act favoured complainant upon admission of signatures. Onus on petitioner to rebut presumption by proving cheque not issued for legally recoverable debt, which petitioner failed. Petitioner rightly convicted and sentenced by ASJ. HC dismissed revision petition, finding no infirmity in ASJ's judgment.
Dishonour of cheque constituted legally recoverable debt. Petitioner convicted u/s 138 Negotiable Instruments Act. Complainant's witness, though SPA holder, competent to depose on known facts. Presumption u/s 139 NI Act favoured complainant upon admission of signatures. Onus on petitioner to rebut presumption by proving cheque not issued for legally recoverable debt, which petitioner failed. Petitioner rightly convicted and sentenced by ASJ. HC dismissed revision petition, finding no infirmity in ASJ's judgment.
Note: It is a system-generated summary and is for quick reference only.