Court held that interim compensation under Section 143A of NI Act is discretionary. No proof of payment or written agreement in this case. Petition dismissed.

Court held that interim compensation under Section 143A of NI Act is discretionary. No proof of payment or written agreement in this case. Petition dismissed. https://www.taxtmi.com/highlights?id=78569 HC dismissed a petition seeking interim compensation u/s 143A of the NI Act for dishonour of cheque. Court clarified that the power to order interim compensation is discretionary and not a right. Petitioner alleged payment of Rs.20 lacs to respondent without lawful consideration, lacking proof or written agreement. Court held that discretion under u/s 143A can be interfered with only if found perverse or unreasonable. Not sitting as Court of Appeal against Trial Court's order. Petition dismissed for lack of merit. en-us Tue, 18 Jun 2024 08:28:06 +0530 Tue, 18 Jun 2024 08:28:06 +0530 TaxTMI RSS Generator Court held that interim compensation under Section 143A of NI Act is discretionary. No proof of payment or written agreement in this case. Petition dismissed. https://www.taxtmi.com/highlights?id=78569 HC dismissed a petition seeking interim compensation u/s 143A of the NI Act for dishonour of cheque. Court clarified that the power to order interim compensation is discretionary and not a right. Petitioner alleged payment of Rs.20 lacs to respondent without lawful consideration, lacking proof or written agreement. Court held that discretion under u/s 143A can be interfered with only if found perverse or unreasonable. Not sitting as Court of Appeal against Trial Court's order. Petition dismissed for lack of merit. Highlights Indian Laws Tue, 18 Jun 2024 08:28:06 +0530 https://www.taxtmi.com/highlights?id=78569