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Cheque for Time-Barred Debt Not an Unconditional Promise, No Offense u/s 138 of Negotiable Instruments Act.
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....Dishonor of Cheque - A cheque given in discharge of a time barred debt will not constitute an unconditional undertaking or promise in writing either expressly or impliedly so as to attract the criminal offence under section 138 of N.I Act. - HC....
TaxTMI
TaxTMI