The bench comprising of Justice Aniruddha Bose and Justice Sanjay Kumar in the case observed that on the question as to whether the sum involved in the cheques was advanced in discharge of a legally enforceable debt or not, the petitioner has failed to show if any sum was advanced towards financial assistance. The High Court in the case found that the debt or liability, in discharge of which, as per the petitioner, the cheques were issued, did not reflect in the petitioner’s balance sheet.
The present matter relates to the initiation of the cheque dishonor proceedings which is initiated against the accused.
The complainant or petitioner contended before the court that the cheque was issued by the accused against the legally enforceable debt towards the complainant and the presumptions contained in Section 118 read with Section 139 of the Negotiable Instruments Act, 1881 lies with the accused to rebut the said presumption.
This story is from the April 20, 2024 edition of The Business Guardian.
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This story is from the April 20, 2024 edition of The Business Guardian.
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