Court Affirms Security Cheque's Role in Ensuring Financial Accountability; Integral to Commercial Process and Deterrent Against Dishonor.

Dishonor of Cheque - insufficiency of funds - legally enforceable debt or not - even if a cheque is a security cheque, the same is an integral part of the commercial process and the same acts as a deterrent for the drawer against dishonouring his financial commitment and can also be used towards discharging the liability of the drawer. It is further held that to state otherwise, would defeat the whole purpose of a security cheque. No judgment has been cited by the learned counsel for the petitioner to show any contrary view. - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X