https://www.taxtmi.com/caselaws?id=368940 The court held that the appellant, J.M.A. Stores Pvt. Ltd., was a holder in due course under the Negotiable Instruments Act, 1881, and entitled to the amount received from the forged draft. The bank's negligence in clearing the draft without proper verification led to the loss, absolving the appellant from liability to repay. The recovery suit against the appellant was deemed unsustainable, and the appeal was allowed, setting aside the trial court's judgment and decree. en-us Thu, 11 Oct 2018 00:00:00 +0530 Wed, 17 Oct 2018 07:42:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368940 The court held that the appellant, J.M.A. Stores Pvt. Ltd., was a holder in due course under the Negotiable Instruments Act, 1881, and entitled to the amount received from the forged draft. The bank's negligence in clearing the draft without proper verification led to the loss, absolving the appellant from liability to repay. The recovery suit against the appellant was deemed unsustainable, and the appeal was allowed, setting aside the trial court's judgment and decree. Case-Laws Indian Laws Thu, 11 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368940