Issuance of Post Dated Cheques is not Unqualified Admission of Debt: NCLT

N.C. Goel & Maya Goel Vs Piyush Infrastructure India Private Limited (NCLT Allahabad) In this case Copies of the post-dated cheques issued by the Corporate Debtor for repayment of principal amount have been enclosed. However, these cannot be taken to be unqualified admission of debt because the presumptions drawn under section 118 and section 139 of the Negotiable Instruments Act, 1881, are rebuttable presumptions. In any case, the petitioners have already initiated proceedings under the Negotiable Instruments Act, 1881. In summary jurisdiction, without adequate documentation, it is diffic...