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IN THE HIGH COURT OF JUDICATURE AT MADRAS
G.K.ILANTHIRAIYAN
S.Ramamoorthy – Appellant
Versus
T.Jayaraman – Respondent
| Table of Content |
|---|
| 1. overview of the petition to quash section 138 ni act proceedings. (Para 1 , 2) |
| 2. petitioner's argument regarding the non-existence of a legally enforceable debt. (Para 3) |
| 3. respondent's argument regarding the validity of the poa and power to amend. (Para 4) |
| 4. court's analysis on the misuse of security cheques and set-aside arbitration awards. (Para 5 , 6 , 7 , 8) |
| 5. final order quashing the criminal proceedings. (Para 9) |
ORDER :
G.K.ILANTHIRAIYAN, J.
This criminal original petition has been filed praying to quash the proceedings in STC.No.7860 of 2022 on the file of the Court of the learned Metropolitan Magistrate, Fast Track Court-III, At Saidapet, Chennai for the offences punishable under Sections 138 and 142 of the Negotiable Instruments Act, 1881.
2. The petitioner is the accused in the complaint lodged by the respondent for the offence punishable under Section 138 of NI Act alleging that the accused, a builder by profession, was indebted to the complainant to the extent of Rs.9,27,72,333/- together with interest at the rate of 18% per annum and the principal amount of Rs.5,54,00,000/- from 04.05.2018 pursuant to arbitration award dated 22.10.2018. The award came
Proceedings under Section 138 of the Negotiable Instruments Act cannot be sustained when the underlying debt is based on an arbitration award that has been set aside and there is clear evidence indic....
A person who is not a signatory to the cheque cannot be prosecuted under Section 138 of the Negotiable Instruments Act, 1881, for the offence of dishonour of cheque for insufficiency of funds.
(1) Dishonour of cheque – At stage of issuance of process, statutory presumption under Section 139 of N.I. Act cannot be dislodged in a summary manner merely by contending that cheque issued was not ....
A cheque issued as security does not negate potential liability under S.138 of the Negotiable Instrument Act if essential legal conditions are met.
The statutory presumption under Section 139 of the Negotiable Instruments Act, 1881, cannot be rebutted at the pre-trial stage; such an exercise must be conducted during the trial, provided the compl....
The court's decision emphasized the strict conditions for prosecuting under Section 138 of the Negotiable Instruments Act, 1881, based on the definition of 'payee' and 'holder in due course'.
Power of attorney holders can file cheque dishonour complaints if they possess personal knowledge of the transaction; absence of such knowledge may invalidate the complaint.
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