https://www.taxtmi.com/caselaws?id=416728 Admitted issuance of the cheques and acknowledgment of signatures attracted the statutory presumptions of consideration and liability under the Negotiable Instruments Act. The accused failed to rebut those presumptions by a probable defence, because the plea that the cheques were only security cheques was not supported by evidence sufficient to negate a legally enforceable debt or liability. The record showed business dealings, presentation and dishonour of the cheques, timely service of demand notice, and non-payment within the statutory period. The conviction under Section 138 was therefore upheld, and the concurrent findings, sentence, and compensation were found free from illegality or impropriety. en-us Thu, 06 Jan 2022 00:00:00 +0530 Fri, 07 Jan 2022 08:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416728 Admitted issuance of the cheques and acknowledgment of signatures attracted the statutory presumptions of consideration and liability under the Negotiable Instruments Act. The accused failed to rebut those presumptions by a probable defence, because the plea that the cheques were only security cheques was not supported by evidence sufficient to negate a legally enforceable debt or liability. The record showed business dealings, presentation and dishonour of the cheques, timely service of demand notice, and non-payment within the statutory period. The conviction under Section 138 was therefore upheld, and the concurrent findings, sentence, and compensation were found free from illegality or impropriety. Case-Laws Indian Laws Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416728