https://www.taxtmi.com/caselaws?id=398575 A cheque issued under an agreement for sale of shares was held to represent a legally enforceable debt or liability under Section 138 of the Negotiable Instruments Act, 1881, because the agreement, cheque, correspondence, and admitted execution established an obligation to pay the balance consideration. Once issuance and dishonour were proved, the presumptions under Sections 118 and 139 arose, and the accused failed to rebut them. The trial court's view that non-transfer of shares left only a civil remedy was found erroneous and perverse on the proved facts, so the acquittal was set aside and the conviction for cheque dishonour was restored. en-us Fri, 28 Aug 2020 00:00:00 +0530 Sat, 19 Sep 2020 16:46:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398575 A cheque issued under an agreement for sale of shares was held to represent a legally enforceable debt or liability under Section 138 of the Negotiable Instruments Act, 1881, because the agreement, cheque, correspondence, and admitted execution established an obligation to pay the balance consideration. Once issuance and dishonour were proved, the presumptions under Sections 118 and 139 arose, and the accused failed to rebut them. The trial court's view that non-transfer of shares left only a civil remedy was found erroneous and perverse on the proved facts, so the acquittal was set aside and the conviction for cheque dishonour was restored. Case-Laws Indian Laws Fri, 28 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398575