Section 148 of NI Act provides minimum 60 days’ time period for depositing fine

Harsh Sehgal Vs State & Anr (Delhi High Court) Facts- The complainant/respondent no. 2, Galaxy Datamatics Pvt. Ltd., averred that the accused no. 1, M/S Takshila Retail Pvt. Ltd., earlier known as M/s Blues Clothing Pvt. Ltd., accused no. 2, Dinesh Sehgal and accused no. 3, Harsh Sehgal, approached the respondent no.2 for a short-term loan of Rs. 5 Crores for meeting short fall in cash flow and for immediate project requirements for implementation of various contracts. A short-term loan agreement was entered into by the parties and respondent no. 2 advanced the loan of Rs. 5 Crores to the ...