https://www.taxtmi.com/caselaws?id=766616 Delhi HC allowed appeal against acquittal under Section 138 NI Act. Trial court erroneously held complainant failed to establish legally enforceable debt despite respondent admitting cheque issuance and signatures. HC found magistrate misinterpreted statutory presumptions under Sections 118(a) and 139 NI Act, which favor complainant until contrary proved by accused. Respondent's defense of cheques as security was invalid since debt was acknowledged in memorandum and letter admitting liability of Rs. 94 lacs. Court held statutory presumption unrebutted and set aside acquittal. en-us Tue, 04 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766616 Delhi HC allowed appeal against acquittal under Section 138 NI Act. Trial court erroneously held complainant failed to establish legally enforceable debt despite respondent admitting cheque issuance and signatures. HC found magistrate misinterpreted statutory presumptions under Sections 118(a) and 139 NI Act, which favor complainant until contrary proved by accused. Respondent's defense of cheques as security was invalid since debt was acknowledged in memorandum and letter admitting liability of Rs. 94 lacs. Court held statutory presumption unrebutted and set aside acquittal. Case-Laws Indian Laws Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766616