https://www.taxtmi.com/caselaws?id=443741 The High Court acquitted the petitioner in a case involving a conviction under section 138 of the Negotiable Instruments Act, 1881. The court found that the presumption of debt was successfully rebutted, as the cheque in question was issued as security before the business closure and presented after the company had shut down, indicating no outstanding dues. The judgments of the Trial and Appellate Courts were set aside, and the petitioner was discharged from bail bond, with permission to withdraw the deposited amount. en-us Mon, 25 Sep 2023 00:00:00 +0530 Sat, 30 Sep 2023 08:26:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443741 The High Court acquitted the petitioner in a case involving a conviction under section 138 of the Negotiable Instruments Act, 1881. The court found that the presumption of debt was successfully rebutted, as the cheque in question was issued as security before the business closure and presented after the company had shut down, indicating no outstanding dues. The judgments of the Trial and Appellate Courts were set aside, and the petitioner was discharged from bail bond, with permission to withdraw the deposited amount. Case-Laws Indian Laws Mon, 25 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443741