https://www.taxtmi.com/caselaws?id=185756 The HC ruled in favor of the petitioners, quashing the summoning order dated 21.1.2004. It determined that the post-dated cheques issued were not for an existing debt but as security for a contingent event, thus not attracting Section 138 of the Negotiable Instruments Act 1881. The court emphasized that cheques given as collateral or for future events do not constitute an actionable cause under Section 138, as they are not for discharging a legally enforceable debt. en-us Thu, 11 Oct 2007 00:00:00 +0530 Wed, 10 Jan 2024 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185756 The HC ruled in favor of the petitioners, quashing the summoning order dated 21.1.2004. It determined that the post-dated cheques issued were not for an existing debt but as security for a contingent event, thus not attracting Section 138 of the Negotiable Instruments Act 1881. The court emphasized that cheques given as collateral or for future events do not constitute an actionable cause under Section 138, as they are not for discharging a legally enforceable debt. Case-Laws Indian Laws Thu, 11 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185756