Tagged: NI Act

A collection of all the Judgements of NI Act.

DELHI HIGH COURT – IF THE SIGNATURES ON THE CHEQUES ARE ADMITTED BY THE ACCUSED THEN THE CONTENTIONS RAISED BY THE ACCUSED THAT THE AMOUNT AND NAME OF THE DRAWEE WERE NOT FILLED IN BY THE ACCUSED DOES NOT HAVE ANY FORCE IN THE EYES OF LAW

Delhi High Court Date of Judgement: 16.11.2016 If the signatures on the cheques are admitted by the accused, it matters little if the name of the payee, date and amount are filled up at a subsequent point in time and therefore the contention raised by the accused that the amount and name of the Drawee were not filled in by...

SUPREME COURT OF INDIA – WHETHER A POST-DATED CHEQUE GIVEN AS “SECURITY” AND MENTIONED IN THE LOAN AGREEMENT IS COVERED BY SECTION – 138 OF THE NEGOTIABLE INSTRUMENTS ACT, 1881 OR NOT?

Supreme Court of India Date of Judgement: 19.09.2016 Whether the dishonour of a post-dated cheque given for repayment of loan installment which is also described as “security” in the loan agreement is covered by Section 138 of the Negotiable Instruments Act, 1881 or not? The agreement recorded that post-dated cheques towards payment of installment of loan (principal and interest) were...

DELHI HIGH COURT – SECURITY CHEQUE – THE SECURITY CHEQUE MAY BE ENFORCED IN THE EVENT OF FAILURE OF THE DEBTOR TO PAY THE DEBT OR DISCHARGE OTHER LIABILITY ON THE DUE DATE

Delhi High Court Date of Judgement: 14.05.2015 It makes no difference whether, or not, there is an express understanding between the parties that the security may be enforced in the event of failure of the debtor to pay the debt or discharge other liability on the due date. Even if there is no such express agreement, the mere fact that the...

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...