https://www.taxtmi.com/caselaws?id=194468 The court held that the suit based on dishonored cheques was maintainable as a Summary Suit, rejecting the argument of a running account. It deemed the cheques as negotiable instruments, dismissing the defense of collateral security. The court upheld the validity of cheque presentment despite the signatory's death and dismissed claims of undue influence in obtaining signatures. The suit was found not barred under the Bombay Money Lenders Act, 1946, and objections regarding stamp duty on loan acknowledgment letters were disregarded. The Defendant was granted leave to defend upon depositing Rs. 67 crores within eight weeks, with the suit transferred to the list of commercial causes. en-us Mon, 24 Feb 2014 00:00:00 +0530 Sat, 09 Sep 2017 09:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194468 The court held that the suit based on dishonored cheques was maintainable as a Summary Suit, rejecting the argument of a running account. It deemed the cheques as negotiable instruments, dismissing the defense of collateral security. The court upheld the validity of cheque presentment despite the signatory's death and dismissed claims of undue influence in obtaining signatures. The suit was found not barred under the Bombay Money Lenders Act, 1946, and objections regarding stamp duty on loan acknowledgment letters were disregarded. The Defendant was granted leave to defend upon depositing Rs. 67 crores within eight weeks, with the suit transferred to the list of commercial causes. Case-Laws Companies Law Mon, 24 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194468