Court Upholds Presumption of Consideration u/s 118 NI Act in Cheque Dishonor Case; Appellant Fails to Rebut.

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....Dishonor of Cheque - Once the signature is admitted and execution is proved by the appellant by examining the independent witnesses, there is a presumption that the appellant has executed a promissory note for the valuable consideration. Therefore, under Section 118 of the Negotiable Instruments Act, no doubt, the said presumption is rebuttable presumption. The appellant has not rebutted the said presumption in the manner known to law. - HC....