https://www.taxtmi.com/caselaws?id=354017 The Court affirmed the conviction of the petitioners under Section 138 of the Negotiable Instruments Act, rejecting their challenge under Section 482 of the CrPC regarding inadequate examination under Section 313. It clarified the personal liability of partners in a partnership firm, distinct from shareholders in a company. The Court emphasized that proof of the complainant's financial capacity is not essential under Sections 118 and 139 of the NI Act. The sentence was modified to a fine only, aligning with the Act's purpose of facilitating negotiable instruments' circulation, with the petitioners directed to pay the fine within a specified period. en-us Fri, 12 Jan 2018 00:00:00 +0530 Tue, 16 Jan 2018 09:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354017 The Court affirmed the conviction of the petitioners under Section 138 of the Negotiable Instruments Act, rejecting their challenge under Section 482 of the CrPC regarding inadequate examination under Section 313. It clarified the personal liability of partners in a partnership firm, distinct from shareholders in a company. The Court emphasized that proof of the complainant's financial capacity is not essential under Sections 118 and 139 of the NI Act. The sentence was modified to a fine only, aligning with the Act's purpose of facilitating negotiable instruments' circulation, with the petitioners directed to pay the fine within a specified period. Case-Laws Indian Laws Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354017