The Calcutta High Court ruled on a case involving dishonour of a cheque due to insufficient funds. The...

The Calcutta High Court ruled on a case involving dishonour of a cheque due to insufficient funds. The accused was acquitted as the complainant failed to prove money lending authority and rebut the presumption u/s 139 of the Negotiable Instruments Act. The court held that the demand notice and presumption favored the complainant. The magistrate's findings were deemed contrary to the law. Referring to a Supreme Court case, it was stated that even a blank signed cheque leaf implies a debt under u/s 139. The accused was convicted u/s 138 and directed to pay a fine of Rs. 8 lakhs within two months or face imprisonment. The application was disposed of accordingly. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X