https://www.taxtmi.com/caselaws?id=414668 A cheque issued only as security for an investment, where the agreed return period had not matured, was not treated as issued in discharge of a legally enforceable debt. The transaction documents and the complainant's own notices and e-mails described the arrangement as an investment, so the statutory presumption under Section 139 stood rebutted. On those facts, criminal liability under Section 138 of the Negotiable Instruments Act could not be sustained, and the acquittal was upheld. en-us Fri, 22 Oct 2021 00:00:00 +0530 Mon, 15 Nov 2021 09:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414668 A cheque issued only as security for an investment, where the agreed return period had not matured, was not treated as issued in discharge of a legally enforceable debt. The transaction documents and the complainant's own notices and e-mails described the arrangement as an investment, so the statutory presumption under Section 139 stood rebutted. On those facts, criminal liability under Section 138 of the Negotiable Instruments Act could not be sustained, and the acquittal was upheld. Case-Laws Indian Laws Fri, 22 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414668