2023 (11) TMI 1338

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..... advance his arguments on the application seeking waiver of pre-deposit which was dismissed by the Appellate Court and sustained by the High Court in JAMBOO BHANDARI VERSUS M.P. STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD. AND ORS. [ 2023 (9) TMI 560 - SUPREME COURT] . The impugned order passed by the High Court sustaining the order of the Sessions Court is/are set aside. The Sessions Court to re- .....

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..... reads as under: What is held by this Court is that a purposive interpretation should be made of Section 148 of the N.I. Act. Hence, normally, Appellate Court will be justified in imposing the condition of deposit as provided in Section 148. However, in a case where the Appellate Court is satisfied that the condition of deposit of 20% will be unjust or imposing such a condition will amount to depri .....

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