Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
A cheque originally issued as security can support a Section 138 prosecution if a legally enforceable liability exists on the date of presentation; once execution of a signed cheque is admitted, the presumptions under Sections 118 and 139 operate for the payee, and the drawer must rebut them at trial. On the pleadings, emails and repayment discussions prima facie indicated a subsisting liability, so the security-cheque defence did not justify quashing. For company liability, specific averments that directors were in charge of and responsible for the business are sufficient at the threshold; a managing director and cheque signatory may be proceeded against, while the non-signatory director was not immune where adequate allegations were made. The complaint was allowed to proceed.
A cheque originally issued as security can support a Section 138 prosecution if a legally enforceable liability exists on the date of presentation; once execution of a signed cheque is admitted, the presumptions under Sections 118 and 139 operate for the payee, and the drawer must rebut them at trial. On the pleadings, emails and repayment discussions prima facie indicated a subsisting liability, so the security-cheque defence did not justify quashing. For company liability, specific averments that directors were in charge of and responsible for the business are sufficient at the threshold; a managing director and cheque signatory may be proceeded against, while the non-signatory director was not immune where adequate allegations were made. The complaint was allowed to proceed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
