https://www.taxtmi.com/caselaws?id=195742 The appellate court upheld the lower court's decision that the plaintiff, South Indian Bank, Ltd., was a holder in due course of the endorsed cheque. It was found that the endorsement was supported by consideration, making the plaintiff entitled to recover the sum. Additionally, the court deemed the delay in giving formal notice of dishonor reasonable, as oral notice was provided immediately and subsequent attempts to present the cheque were made. The defendant's request for unconditional leave to defend the suit was denied, and conditional leave was granted, requiring a deposit or security within a specified period. The appeal was dismissed, and the defendant was given an extension to furnish security. en-us Wed, 23 Mar 1949 00:00:00 +0530 Thu, 09 Nov 2017 13:27:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195742 The appellate court upheld the lower court's decision that the plaintiff, South Indian Bank, Ltd., was a holder in due course of the endorsed cheque. It was found that the endorsement was supported by consideration, making the plaintiff entitled to recover the sum. Additionally, the court deemed the delay in giving formal notice of dishonor reasonable, as oral notice was provided immediately and subsequent attempts to present the cheque were made. The defendant's request for unconditional leave to defend the suit was denied, and conditional leave was granted, requiring a deposit or security within a specified period. The appeal was dismissed, and the defendant was given an extension to furnish security. Case-Laws Indian Laws Wed, 23 Mar 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195742