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 : Understanding territorial jurisdiction under Section 138 of the NI Act. Key rulings and amendments explain where cheque bounce cas...
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 : The Court held that repeated dishonour of cheque and non-payment after notice established a prima facie case. It refused to quash ...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Corporate Law : Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘defi...
Corporate Law : The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption r...
Corporate Law : The court analysed whether the reason account blocked falls within the scope of Section 138 of the Negotiable Instruments Act. It ...
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...
If the provisions are substantive in nature then the same cannot be applied Retrospectively to the pending cases. However, if the provisions are procedural in nature then the same has to be applied to all the cases, including the one pending before the Court.
SC held that once the court has drawn presumption of existence of legally enforceable debt as per Section 139 of the NI Act, factors like source of funds are not relevant if the accused has not been able to rebut the presumption.
Non-filing of Income Tax Return by itself would not mean that the complainant had no source of income and thus, no adverse inference can be drawn in this regard only because of absence of Income Tax Return.
It was held that in determining whether the presumption has been rebutted, the test of proportionality must guide the determination. The standard of proof for rebuttal of the presumption u/s 139 is guided by a preponderance of probabilities.
In the instant case, the respondent is seeking enforcement of the liability of the petitioners created under Section 30 and 37 of the Negotiable Instruments Act, 1881 as the cause of action for the plaint is based on the dishonour of the said cheques. Since, the suit is not based on any contract between the parties, the bar under Section 69 (2) of the of the Indian Partnership Act,1932 would not apply.
This article is a critical analysis of the recent judgment of NCLAT i.e., in the matter of Shah Brothers Ispat Pvt. Ltd. Vs. P. Mohanraj & Ors.-Company Appeal (AT) (Insolvency) No. 61 of 2018 wherein it has been held that moratorium will not be applicable to action under section 138 of the Negotiable Instruments Act, 1881.
This Act may be called the Negotiable Instruments (Amendment) Act, 2018. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Lok Sabha passes Negotiable Instrument (Amendment) Bill, 2018 a bill further to amend the Negotiable Instruments Act, 1881 by which it has proposed to insert section 143A -Power to direct interim compensation and Section 148-Power of Appellate Court to order payment pending appeal against conviction. Bill No. 281-C of 2017 THE NEGOTIABLE INSTRUMENTS (AMENDMENT) BILL, […]
Kishan Rao Vs Shankargouda (Supreme Court Of India) In the present case, the trial court as well as the Appellate Court having found that cheque contained the signatures of the accused and it was given to the appellant to present in the Bank of the presumption under Section 139 was rightly raised which was not […]
When on receipt of money by way of cheque a liability is acknowledged by receiver as loan or deposit or share capital, it need to be viewed considering ground realities faced by receiver of money against which he incur liability.
