Negotiable Instruments Act, 1881, Section 138, 141 -- Company - If not prosecuted - Persons falling within the purview of sub-sections (1) and (2) of S.141 of the Act can still be prosecuted...........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - If not prosecuted - Directors can still be prosecuted - Payee can succeed only if he succeeds in showing that the offence was actually committed by the Company - In such a prosecution accused can show that the Company has not committed that offence, though such company is not made an accused - A finding that..........
Negotiable Instruments Act, 1881, Section 138 -- Closure of account - Offence u/s 138 of the Act is made out - Closure of account strengthens the intention of accused to cheat - Whether account was closed with dishonest intention or otherwise can be looked into at trial stage...........
Negotiable Instruments Act, 1881, Section 138 -- Premature complaint - High Court not to interfere in writ jurisdiction - Accused to approach trial Magistrate to recall the process...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Notice issued - Cheque again presented and again dishonoured - Complaint filed - Held, complaint is barred by limitation - Cause of action can arise only once - As the cause of action first arose on failure to make payment when notice was issued for the first dishonour of cheque second dishonour and..........
Negotiable Instruments Act, 1881, Section 138, 141 -- Company - Dishonour of cheque - Vicarious liability - Complaint against Company, its Chairman, Managing Director, nine Directors and three officers of the Company - Complaint against Chairman and others quashed - Nothing on record to show that there was any act committed by them to draw the inference that they were..........
Negotiable Instruments Act, 1881, Section 138 -- Cause of action - Arises only once - Complaint filed after issuing a second notice and after 45 days of receipt of the first notice by the drawer - Complaint is not maintainable...........
Negotiable Instruments Act, 1881, Section 138 -- Notice - Dishonour of cheque - Notice sent but no complaint filed - Complaint filed after third dishonour of cheque - Complaint quashed - Cause of action arises only once when first notice is sent...........
Negotiable Instruments Act, 1881, Section 138 -- Notice - Drawee is required to send 15 days notice to drawer demanding payment - Complaint should be filed within one month of receipt of notice by the drawer - Starting date of period of 15 days is the date of receipt of notice by the drawer...........
Negotiable Instruments Act, 1881, Section 138 -- Notice - No form of notice is prescribed - Notice should only be in writing...........