Case Law Details
Case Name : Mrs. Aparna A. Shah Vs M/s Sheth Developers Pvt. Ltd. & Anr. (Supreme Court of India)
Related Assessment Year :
Courts :
Supreme Court of India
Under Section 138 of the N.I. Act, in case of issuance of cheque from joint accounts, a joint account holder cannot be prosecuted unless the cheque has been signed by each and every person who is a joint account holder. The said principle is an exception to Section 141 of the N.I. Act which would have no application in the case on hand.
The proceedings filed under Section 138 cannot be used as an arm twisting tactics to recover the amount allegedly due from the appellant. It cannot be said that the complainant has no remedy against the appellant but certainly not under Section 138. The culpabi...
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The judgment has cleared many other cases on the subject as people carry in their mind that joint account holders are responsible for the offence when only one of them has signed. Great judgment.
I want to help one of my friends who is falsely implicated u/s 138 by one known person with a wrong motive. The complainant has alleged that he had paid one lakh out of personal loan taken by him for house repair in one slot. When his bank statement was investigated it was found that he was sanctioned the amount but the transaction (withdrawal)was made in small amount every week and the entire loan amount was used by him in three months.
Kindly advice whether my friend can get justice?