https://www.taxtmi.com/caselaws?id=459816 The court upheld that issuing a cheque from a closed account constitutes an offence under Section 138 of the Negotiable Instruments Act, equating it to issuing a cheque with insufficient funds. The court emphasized that the phrase "account maintained" includes accounts closed prior to cheque issuance, aligning with the Supreme Court's precedent in NEPC Micon Ltd. The petitioner's argument that no offence exists if the account is closed before cheque issuance was rejected. The court declared the Urban Cooperative Credit Society judgment per incuriam, reinforcing that the closure of an account does not absolve liability under Section 138. en-us Mon, 28 Jun 2004 00:00:00 +0530 Mon, 30 Dec 2024 12:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459816 The court upheld that issuing a cheque from a closed account constitutes an offence under Section 138 of the Negotiable Instruments Act, equating it to issuing a cheque with insufficient funds. The court emphasized that the phrase "account maintained" includes accounts closed prior to cheque issuance, aligning with the Supreme Court's precedent in NEPC Micon Ltd. The petitioner's argument that no offence exists if the account is closed before cheque issuance was rejected. The court declared the Urban Cooperative Credit Society judgment per incuriam, reinforcing that the closure of an account does not absolve liability under Section 138. Case-Laws Indian Laws Mon, 28 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459816