Cheques Given as Security u/s 138 Can Be Enforced Upon Default, Upholding Legal Authority in Transactions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Offence u/s 138 of the NI Act - it cannot be said that the cheques given by way of security are only an empty exercise and that the lender has no authority to present the cheques when there is default. - HC....