Negotiable Instruments Act, 1881, Section 118 -- Suit for recovery based on dishonoured cheque - When there is an admission regarding issuance of cheque in connection with a money transaction either as security or in lieu of cash, initial onus lies on plaintiff to prove due execution would stand discharged - Presumption available u/s 118 of the Act including one that..........
Negotiable Instruments Act, 1881, Section 118 -- Suit for recovery based on dishonoured cheque - Amount covered by cheque comes to Rs.17,50,000 for which no satisfactory evidence was adduced by plaintiff regarding its source - In absence of satisfactory explanation as to how plaintiff has raised such a huge amount, it would go against the presumption that can be drawn u/s..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Compromise - Eight cheques issued - Case closed - All eight cheques dishonoured - The only option available to the complainant is to file execution case before the same Judge for execution of the order in terms of compromise for recovery of amount mentioned in the cheques - Court ought to register a..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Complaint - Proceedings also initiated under Punjab Co-operative Societies Act - If a civil suit for recovery is filed it does not preclude the lender from initiating proceedings u/s 138 of the Act and vice versa - There is thus no question of accused having been prosecuted twice and consequently..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Admittedly, accused has not taken any appropriate steps to secure back his blank cheque alleged to have been given by him to complainant at time of loan transaction - Had he really issued a blank cheque as a security in previous loan transaction, accused should have necessarily taken appropriate steps..........
Civil Procedure Code, 1908, Order 37, Rule 1 -- Recovery suit for money - Amount in question paid by plaintiff for becoming member of chit Fund - There is thus, no justification for making payment in cash - Explanation by defendant that cheque given as security is clearly an eye wash - Once cheque is proved and same is dishonoured, burden shifts upon defendant to establish..........
Civil Procedure Code, 1908, Order 37, Rule 1 -- Suit for recovery of money - Defendant borrowed Rs.17 lakhs from plaintiff and issued a cheque for repayment of same - He admitted that cheque was issued by him for Rs.17 lakhs - Cheque was presented by plaintiff for encashment and was returned with an endorsement that defendant has issued `stop payment' instruction - On..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Loan transaction - Complainant alleges that accused took a loan of Rs.5 lacs for a period of 7 years - However, accused contended that averments made in complaint that loan had been taken for a period of 7 years is nothing but to make out a case so as to bring the case within period of limitation and..........
Negotiable Instruments Act, 1881, Section 138, 141, Criminal Procedure Code, 1973, Section 421, Insolvency and Bankruptcy Code, 2016, Section 238 -- Dishonour of cheque - Company - Application u/s 7 of Insolvency and Bankruptcy Code, 2016 accepted - Recovery of fine - Post conviction recovery of fine/compensation from assets of corporate debtor will have to be in terms of..........
Limitation Act, 1963, Section 5, Negotiable Instruments Act, 1881, Section 4 -- Suit for recovery of money - Issue as to `whether dishonoured cheque will save the limitation of time barred debt, in the absence of promise' - Period of limitation has to be reckoned from the date of cheque considering the cheque as acknowledgment of debt - In instant case, suit being filed..........
