https://www.taxtmi.com/caselaws?id=309934 In a cheque dishonour prosecution, the absence of a money-lending licence did not by itself make the underlying debt unenforceable or defeat liability under Section 138 of the Negotiable Instruments Act, 1881. The Calcutta HC treated the Bengal Money-Lender's Act, 1940 as a regulatory statute whose consequences for unauthorised lending operate under that Act, not as a complete defence to cheque dishonour proceedings. The Court also found that the presumptions under Sections 118 and 139, including consideration and legally enforceable debt, remained unrebutted because the accused relied only on alleged illegality of lending, while issuance, dishonour, notice, and non-payment were undisputed. The conviction was upheld and compensation directed. en-us Tue, 13 Oct 2015 00:00:00 +0530 Wed, 27 Sep 2023 21:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309934 In a cheque dishonour prosecution, the absence of a money-lending licence did not by itself make the underlying debt unenforceable or defeat liability under Section 138 of the Negotiable Instruments Act, 1881. The Calcutta HC treated the Bengal Money-Lender's Act, 1940 as a regulatory statute whose consequences for unauthorised lending operate under that Act, not as a complete defence to cheque dishonour proceedings. The Court also found that the presumptions under Sections 118 and 139, including consideration and legally enforceable debt, remained unrebutted because the accused relied only on alleged illegality of lending, while issuance, dishonour, notice, and non-payment were undisputed. The conviction was upheld and compensation directed. Case-Laws Indian Laws Tue, 13 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309934