SUPREME COURT OF INDIA – A CHEQUE ISSUED FROM THE ACCOUNT OF GUARANTOR AS SECURITY ALSO WOULD FALL WITHIN THE PURVIEW OF SECTION 138 OF NI ACT

Supreme Court of India Date of Judgement: 12.08.2002 The security cheques also would fall within the purview of the Section 138 of NI Act and a person could not escape his liability, as such, when there is existence of debt on the date of presentation of the cheque and the security cheques issued are dishonoured, the accused would be liable under...