https://www.taxtmi.com/highlights?id=101216 A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown. en-us Tue, 30 Jun 2026 07:22:18 +0530 Tue, 30 Jun 2026 07:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101216 A cheque issued as security in a loan transaction can still attract liability on dishonour if it is presented on default and a legally enforceable debt subsists. The note explains that the presumptions under the Negotiable Instruments Act are rebuttable, but the drawer must raise a probable defence, which may be based on the complainant's own material; absent such defence, the presumption of liability under Section 139 remains intact. It also states that revisional jurisdiction is limited and cannot be used as a second appeal for re-appreciation of evidence. On the facts discussed, the accused admitted the loan, failed to probabilise the security-cheque plea, and no perversity or miscarriage of justice was shown. Highlights Indian Laws Tue, 30 Jun 2026 07:22:18 +0530 https://www.taxtmi.com/highlights?id=101216