TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The HC allowed the petition and quashed the impugned cognizance and complaint under Section 138 of the NI Act. The court held the undated cheques were issued as security/advance conditional on performance of the sale agreement, and the condition precedent (transfer/possession of land) was not fulfilled by the respondent. Consequently no legally enforceable debt or subsisting liability existed at the time of presentation and dishonour, and the proceedings under Section 138 constituted misuse of process. Relief was granted to the petitioner, with the criminal proceedings under the NI Act set aside for want of a legally actionable liability.
TaxTMI 
TaxTMI 
