2001 (9) TMI 1078

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....quash the criminal proceedings. A proceedings had been initiated under Section 138 read with Section 142 of the Negotiable Instruments Act (for short 'the Act'), alleging that the cheque which the drawer had given had not been honoured by the Bank. 3. The gravamen of the accused-petitioner's case before the High Court was that the grounds on which the cheque had not been honoured, would not const....

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....at the High Court has failed to appreciate the ratio of the judgment of this Court in Modi Cements case (supra) inasmuch as in paragraph 11 of the said judgment, the Court had recorded a conclusion that it is in complete agreement with the legal proposition enunciated in Electronics Trade and Technology Development Corpn. Ltd. v. Indian Technologists and Engineers (Electronics) (P) Ltd. (1996-2) 1....