https://www.taxtmi.com/caselaws?id=408326 In cheque dishonour proceedings, the court treated Chapter XVII of the Negotiable Instruments Act as primarily compensatory and noted that the punitive element exists to secure payment. It held that the object of the law is to recover the cheque amount with interest and costs expeditiously, and that offences under the Act are compoundable. Where the accused paid twice the cheque amount with costs and the complainant accepted the payment, the proceedings could be closed and the sentence of imprisonment need not continue. The conviction and imprisonment were therefore set aside after compensation was accepted and the offence was compounded. en-us Wed, 31 Mar 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408326 In cheque dishonour proceedings, the court treated Chapter XVII of the Negotiable Instruments Act as primarily compensatory and noted that the punitive element exists to secure payment. It held that the object of the law is to recover the cheque amount with interest and costs expeditiously, and that offences under the Act are compoundable. Where the accused paid twice the cheque amount with costs and the complainant accepted the payment, the proceedings could be closed and the sentence of imprisonment need not continue. The conviction and imprisonment were therefore set aside after compensation was accepted and the offence was compounded. Case-Laws Indian Laws Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408326