https://www.taxtmi.com/caselaws?id=296291 The Supreme Court upheld the trial court's decision to acquit the accused in an appeal under Section 138 of the Negotiable Instruments Act. The court found that the cheque was issued as collateral security, not for a legally enforceable debt, thus no conviction was warranted. The appellant's arguments regarding the accused's failure to contest the loan statement and inconsistent defenses were rejected. The court also dismissed the appellant's contention that they could fill in the cheque for the existing liability on the issuance date. The appeal was ultimately dismissed, affirming the trial court's ruling. en-us Wed, 22 Aug 2007 00:00:00 +0530 Tue, 13 Jul 2021 16:34:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296291 The Supreme Court upheld the trial court's decision to acquit the accused in an appeal under Section 138 of the Negotiable Instruments Act. The court found that the cheque was issued as collateral security, not for a legally enforceable debt, thus no conviction was warranted. The appellant's arguments regarding the accused's failure to contest the loan statement and inconsistent defenses were rejected. The court also dismissed the appellant's contention that they could fill in the cheque for the existing liability on the issuance date. The appeal was ultimately dismissed, affirming the trial court's ruling. Case-Laws Indian Laws Wed, 22 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296291