BILAL NAZKI
PGM Spinning Ltd. , Hyderabad – Appellant
Versus
APSFC, Hyderabad – Respondent
( 1 ) BOTH the petitions are interconnected, parties are also same therefore they are decided by this common order.
( 2 ) COMPLAINT filed under Section 138 of the Negotiable Instruments Act against the petitioners is sought to be quashed by these petitions. Two grounds were agitated before this Court for getting the complaint quashed. One of the grounds stated was that the complaint is not maintainable as it-, has been filed beyond time. According to the complaint the cheque was issued on 26/08/1996, it was presented on 12-12-1996 before the Bank which was dishonoured with the endorsement "payment stopped by drawer". Notice was issued by the complainant to the petitioners on 30/12/1996 which was acknowledged by the petitioners on 31/12/1996. Complaint was filed on 14/02/1997. The case of the petitioners is that the statutory period of 15 days for a re-action to the notice would end on 14/01/1997. This is wrong in view of the fact that under Section 142 of the Negotiable Instruments Act 15 days clear notice has to be given which would mean that the notice period would end on 15/01/1997 and not on 14/01/1997. If it is taken as 14/01/1997, then the petitioners would hav
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.