https://www.taxtmi.com/caselaws?id=471801 Section 138 of the Negotiable Instruments Act applies where a cheque issued for a legally enforceable debt is returned unpaid, statutory demand is served, and the drawer fails to pay within the prescribed period. Admitted signatures on the cheque, promissory notes and undertakings provide prima facie support for the complaint and engage the Section 139 presumption of liability. Return of a cheque because a clearing portal rejects its MICR code does not, on these facts, displace those requirements. Challenges to the underlying debt and consequences of a bank merger are matters for trial. en-us Fri, 17 Nov 2023 00:00:00 +0530 Fri, 18 Sep 2026 17:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471801 Section 138 of the Negotiable Instruments Act applies where a cheque issued for a legally enforceable debt is returned unpaid, statutory demand is served, and the drawer fails to pay within the prescribed period. Admitted signatures on the cheque, promissory notes and undertakings provide prima facie support for the complaint and engage the Section 139 presumption of liability. Return of a cheque because a clearing portal rejects its MICR code does not, on these facts, displace those requirements. Challenges to the underlying debt and consequences of a bank merger are matters for trial. Case-Laws Indian Laws Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471801