https://www.taxtmi.com/caselaws?id=308265 Criminal complaints under Section 138 of the Negotiable Instruments Act cannot proceed where, before expiry of the statutory 15-day payment period after notice, a BIFR restraint order prevents the company from disposing of or alienating its assets and makes payment impossible. The offence is complete only on dishonour, service of notice, and failure to pay within that period; if non-payment is beyond the drawer's control when liability would otherwise crystallise, the essential ingredient of default is not satisfied. The analysis follows Kusum Ingots and rejects a later contrary view, with the complaints treated as not maintainable on these facts. en-us Thu, 21 Jan 2010 00:00:00 +0530 Mon, 12 Jun 2023 15:19:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308265 Criminal complaints under Section 138 of the Negotiable Instruments Act cannot proceed where, before expiry of the statutory 15-day payment period after notice, a BIFR restraint order prevents the company from disposing of or alienating its assets and makes payment impossible. The offence is complete only on dishonour, service of notice, and failure to pay within that period; if non-payment is beyond the drawer's control when liability would otherwise crystallise, the essential ingredient of default is not satisfied. The analysis follows Kusum Ingots and rejects a later contrary view, with the complaints treated as not maintainable on these facts. Case-Laws Indian Laws Thu, 21 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308265