https://www.taxtmi.com/caselaws?id=386442 Admitted execution of the cheque and loan receipt attracted the statutory presumptions under Sections 118(a) and 139 of the Negotiable Instruments Act, so the accused had to rebut liability by a probable and cogent defence. The plea that the cheque was issued only as security was rejected because the loan receipt itself recorded the loan transaction and no credible evidence showed absence of debt or liability. Finding no illegality or perversity in the concurrent findings below, the conviction under Section 138 was upheld and the revision petition was dismissed. en-us Tue, 24 Sep 2019 00:00:00 +0530 Sat, 28 Sep 2019 07:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386442 Admitted execution of the cheque and loan receipt attracted the statutory presumptions under Sections 118(a) and 139 of the Negotiable Instruments Act, so the accused had to rebut liability by a probable and cogent defence. The plea that the cheque was issued only as security was rejected because the loan receipt itself recorded the loan transaction and no credible evidence showed absence of debt or liability. Finding no illegality or perversity in the concurrent findings below, the conviction under Section 138 was upheld and the revision petition was dismissed. Case-Laws Indian Laws Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386442