9911796707
TMI Blog1996 (1) TMI 465X X X X Extracts X X X X X X X X Extracts X X X X ..... ts of the accused. The complaint of the appellant read thus : The above cheque was presented by the complainant on 28.11.1990, through their Bankers M/s. Hyderabad Bank, Sarojini Devi Road, Secunderabad for realisation, with the promise by the accused, that the same will be honoured when presented. However, the said cheque was dishonoured with the Banker's endorsement dated 29.11.1990. 1. referred to drawer. 2. instructions for stopping payment and stamped. 3. exceeds arrangements . It is evident from the Banker's memo dated 29.11.1990 that the said cheque was dishonoured by the Bank for wants of funds only. On receipt of the intimation dated 29.11.1990 from the Bank, the complainant has issued a notice on 6.12.1990 to the ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccused in cases of dishonour of certain cheques for insufficiency of funds in the accounts of the accused. It reads thus : 138. Dishonour of cheque for insufficiency, etc., of funds in the accounts. Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of money to another person out of the account for the discharge of the debt in whole or in part or other liability is returned by the bank with the endorsement like (1) in this case, I refer to the drawer (2) instructions for stoppage of payment and (3) stamp exceeds arrangement , it amounts to dishonour within the meaning of Section 138 of the Act. On issuance of the notice by the payee or the holder in due course after dishonour, to the drawer demanding payment within 15 days from the date of the receipt of such a notice, if he does not pay the same, the statutory presumption of dishonest intention, subject to any other liability, stands satisfied. 7 . Shri Nageswara Rao, learned Counsel appearing for the respondents, conten ..... X X X X Extracts X X X X X X X X Extracts X X X X
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