https://www.taxtmi.com/caselaws?id=421096 A cheque issued against an ascertained liability does not escape Section 138 of the Negotiable Instruments Act merely because it is described as a security cheque. On the pleaded facts, the complaint and promissory note showed a loan transaction with interest, so the debt was treated as legally enforceable and the Section 138 complaint was not liable to be quashed under Section 482 CrPC. The objection that one partner had not signed the cheque also failed because the complaint specifically averred that the applicants were partners responsible for the firm's business, bringing them within Section 141 of the Act. en-us Tue, 22 Mar 2022 00:00:00 +0530 Mon, 18 Apr 2022 08:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421096 A cheque issued against an ascertained liability does not escape Section 138 of the Negotiable Instruments Act merely because it is described as a security cheque. On the pleaded facts, the complaint and promissory note showed a loan transaction with interest, so the debt was treated as legally enforceable and the Section 138 complaint was not liable to be quashed under Section 482 CrPC. The objection that one partner had not signed the cheque also failed because the complaint specifically averred that the applicants were partners responsible for the firm's business, bringing them within Section 141 of the Act. Case-Laws Indian Laws Tue, 22 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421096