https://www.taxtmi.com/caselaws?id=754096 The Madras HC dismissed appeals in dishonoured cheque cases under Section 138 of the Negotiable Instruments Act. The court held that appellant failed to establish legally enforceable debt arising from alleged chit payment defaults. Without proper account statements and requisite details proving the debt, appellant could not invoke Section 139 presumption. Respondents successfully argued cheques were given for security purposes and were misused. The court affirmed that without establishing legally enforceable debt, dishonoured cheques cannot attract Section 138 provisions. en-us Mon, 03 Jun 2024 00:00:00 +0530 Tue, 18 Jun 2024 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754096 The Madras HC dismissed appeals in dishonoured cheque cases under Section 138 of the Negotiable Instruments Act. The court held that appellant failed to establish legally enforceable debt arising from alleged chit payment defaults. Without proper account statements and requisite details proving the debt, appellant could not invoke Section 139 presumption. Respondents successfully argued cheques were given for security purposes and were misused. The court affirmed that without establishing legally enforceable debt, dishonoured cheques cannot attract Section 138 provisions. Case-Laws Indian Laws Mon, 03 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754096