Tribunal Reduces Security for Dishonored Cheques; Section 138 Proceedings Under Negotiable Instruments Act Not Required.

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....Dishonor of the cheques issued during search proceedings - Now since the Commercial Tax Tribunal has passed the order by which the security has been reduced and that the entire amount has been deposited, no useful purpose will be served in initiating proceedings under Section 138 of Negotiable Instrument Act - HC....