Corporate Law : The court held that cheque dishonour caused by a statutory account freeze during insolvency does not attract criminal liability. T...
Corporate Law : upreme Court held that a trust is not a separate legal entity under the Indian Trusts Act, 1882, and only its trustees can be held...
Corporate Law : The Supreme Court of India ruled that presenting a cheque for its full amount after a partial payment was made does not constitute...
Corporate Law : The Supreme Court in Vishnoo Mittal v. M/s Shakti Trading Company quashed proceedings against a director under Section 138 of the ...
Corporate Law : SC rules that directors cannot face Section 138 NI Act cases if the cause of action arises after insolvency proceedings begin unde...
Corporate Law : The Modi government in a bit to improve ease of doing business and unclogging courts has decided that 39 sections in 19 differen...
Corporate Law : Lok Sabha passes Negotiable Instrument (Amendment) Bill, 2018 a bill further to amend the Negotiable Instruments Act, 1881 by whic...
Corporate Law : It is, therefore, proposed to introduce the Negotiable Instruments (Amendment) Bill, 2017 to provide, inter alia, for the followin...
Corporate Law : Proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015 The Union Cabinet, chaired by the Prime Minister Shr...
Corporate Law : The main amendment included in this is the stipulation that the offence of rejection/return of cheque u/s 138 of NI Act will be en...
Corporate Law : Tripura High Court acquitted the accused after finding the complainant failed to prove financial capacity and valid statutory noti...
Corporate Law : High Court upheld conviction under Section 138 NI Act, holding that contradictory defence evidence failed to rebut statutory presu...
Corporate Law : The Supreme Court examined whether personal insolvency proceedings under the IBC could halt cheque dishonour cases under Section 1...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Corporate Law : The Karnataka High Court held that a complainant under Section 138 of the Negotiable Instruments Act can pursue an appeal as a vic...
Corporate Law : Pursuant to directions of Hon'ble Supreme Court of India, following Practice Directions are issued to all Courts dealing with case...
Finance : Central Government hereby declares every Saturday as a public holiday for Life Insurance Corporation of India, with immediate effe...
Corporate Law : This Act may be called the Negotiable Instruments (Amendment) Act, 2018. (2) It shall come into force on such date as the Central ...
Corporate Law : MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 29th December, 2015 The following Act of Parliament received t...
Corporate Law : NOW THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to p...
Ashutosh Ashok Parasrampuriya Vs Gharrkul Industries Pvt. Ltd. (Supreme Court of India) The issue for determination before us is whether the role of the appellants in the capacity of the Director of the defaulter company makes them vicariously liable for the activities of the defaulter Company as defined under Section 141 of the NI Act? In that perception, […]
Supreme Court has observed that if the signature on the cheque is admitted, then presumption under Section 139 of the Negotiable Instruments Act that the cheque was issued in discharge of a legally enforceable debt will be raised. Upon such presumption being raised, it is incumbent upon the accused to rebut the same.
Even in the instant case the amount spent by the complainant was not shown in his income tax returns. As such, the trial Court had rightly held that it creates a doubt regarding the financial position of the appellant and if he really spent that much amount, there must be record for him for withdrawal of amount from his bank account and spending the same.
N. Raveendran Vs Shajahan (Kerala High Court) The absence of salutation Like Mr./M/s. while drawing the cheque by accused cannot be a ground for the accused to be acquitted from proceedings under Section 138 of the Negotiable Instruments Act. FULL TEXT OF THE JUDGMENT/ORDER OF KERALA HIGH COURT This appeal arises out of the judgment […]
Md. Nasim Ansari son of Late Md. Muslim Vs The State of Jharkhand (Jharkhand High Court) Heard Mrs. Ritu Kumar, learned counsel for the petitioner. 2. Heard Mrs. Vandana Bharti, learned A.P.P. appearing on behalf of the opposite party- State. 3. Heard Mr. Ashok Kr. Sinha, learned counsel appearing on behalf of the opposite party […]
The Hon’ble High Court in present facts of the case after interpreting the word ‘may’ have held that granting of 20% compensation under Section 143A of the Negotiable Instruments Act, 1881 is totally valid as the said provision is not discretionary in nature.
Pursuant to directions of Hon’ble Supreme Court of India, following Practice Directions are issued to all Courts dealing with cases under Section 138 of Negotiable Instruments Act, in Telangana State.
Nowadays cheques are used closely everywhere for many purposes which include loan repayment, salary & wage payment, bill payment, and fee payment, etc. so on a daily basis, banks process and clear the vast majority of cheques which is used to secure evidence of payment. However, cheques are still a very common mode of payment for all nowadays. It is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.
In Re Expeditious Trial of Cases Under Section 138 of N.I. Act 1881 (Supreme Court) 1) The High Courts are requested to issue practice directions to the Magistrates to record reasons before converting trial of complaints under Section 138 of the Act from summary trial to summons 2) Inquiry shall be conducted on receipt of […]
Central Government hereby declares every Saturday as a public holiday for Life Insurance Corporation of India, with immediate effect.
