https://www.taxtmi.com/caselaws?id=311562 A cheque described as security can still attract liability under Section 138 of the Negotiable Instruments Act when the agreement permits presentation on default and the cheque is presented after non-payment becomes due; the conviction under Section 138 was therefore sustained. The materials did not show dishonest intention at the inception of the transaction, so the ingredients of cheating under Section 420 of the Indian Penal Code were not established and the acquittal on that count was upheld. In view of compounding and payment, no sentence was imposed. en-us Fri, 11 Jun 2004 00:00:00 +0530 Tue, 02 Jan 2024 17:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311562 A cheque described as security can still attract liability under Section 138 of the Negotiable Instruments Act when the agreement permits presentation on default and the cheque is presented after non-payment becomes due; the conviction under Section 138 was therefore sustained. The materials did not show dishonest intention at the inception of the transaction, so the ingredients of cheating under Section 420 of the Indian Penal Code were not established and the acquittal on that count was upheld. In view of compounding and payment, no sentence was imposed. Case-Laws Indian Laws Fri, 11 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311562