AI Overview...
- Carrying out 138 Adjustment - Main points and insights:
- An adjustment under Section 138 of the Negotiable Instruments Act involves presenting a cheque for payment or for adjustment, and its subsequent dishonour can lead to prosecution if certain conditions are met (e.g., proper notice) Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President and Secretary - Crimes, Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President - Dishonour Of Cheque.
- The existence of an agreement or understanding, such as a domestic adjustment or settlement, can influence whether a cheque is considered issued for a debt or security, impacting the applicability of Section 138 Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President and Secretary - Crimes, Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President - Dishonour Of Cheque.
- In cases where cheques are presented for adjustment, the presence of a return memo (e.g., P9 memo) indicating presentation and adjustment is crucial for establishing the transaction's nature Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President and Secretary - Crimes, Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President - Dishonour Of Cheque.
- The legality of an adjustment or settlement depends on proper documentation and adherence to prescribed procedures; unrecorded or informal adjustments may not be recognized legally Prataprai Trumbaklal Mehta VS Jayant Nemchand Shah & another - Bombay.
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Disputes over adjustments often involve whether the amount was correctly recorded, whether the adjustment was valid, and if the proper notices were issued, which can affect the outcome of criminal or civil proceedings Prataprai Trumbaklal Mehta VS Jayant Nemchand Shah & another - Bombay, Charminar Co-operative Urban Bank Ltd. , Hyderabad VS Chaithanyakala Samithi, President and Secretary - Crimes.
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Analysis and conclusion:
- To successfully carry out a 138 adjustment, it is essential that the adjustment is properly documented, with clear evidence such as presentation memos and notices, and that any agreement is recorded in accordance with legal requirements.
- The presence of a proper acknowledgment and adherence to procedural formalities determine the enforceability of adjustments under the Negotiable Instruments Act.
- In cases involving disputes over adjustments, courts scrutinize the documentation and procedural compliance to establish whether the adjustment was valid and whether the cheque was issued in discharge of a debt or security.
- Overall, a valid 138 adjustment hinges on clear evidence of presentation, proper recording, and compliance with legal formalities to ensure the adjustment is recognized legally and can withstand scrutiny in legal proceedings.
Search Results for "Carry out 138 Adjustment"
• India - Bombay
agreement between the landlord and the tenant on the question of repairs to the premises and if that agreement provides for this adjustment ... 1974Noncompliance by tenant with requisition in notice-Eviction suit-Tenants plea-Agreement existing to the effect tenant should carry ... Sections 12 (2) and 23-Notice under Section 12 (2) by landlord upon tenant - Claiming rent of Rs. 138/- for the period 1-10-1972
1996 0 Supreme(Mad) 945 • India - Madras
V.KANAGARAJ
The sum so calculated shall be equal to 20% of the tax that would have been chargeable on the amount of the adjustments, as if it ... The sum so calculated shall be equal to 20% of the tax that would have been chargeable on the amount of the adjustments, as if it ... particular manner - The sum so calculated shall be equal to 20% of the tax that would have been chargeable on the amount of the adjustments ... 1981 (21) CTR(SC) 138, 1981 (21) CTR(SO) 138. ... On facts, that decision is identical to the pr....
2024 Supreme(Online)(TDSAT) 16 • India - Telecom Disputes Settlement and Appellate Tribunal
Justice Dhirubhai Naranbhai Patel, CJ, Mr. Subodh Kumar Gupta, J
(Paras 9, 70, 87) ... ... (C) Equitable adjustment - The Tribunal reiterates ... The operational financial model hinges on the timely review and adjustment of fees in accordance with market-driven realities. ... Tribunal quashed AERA's rigid interest cap, directing recalibration for accurately reflecting actual market conditions for future DF adjustments ... Additional Interest for non-creation of securityDisbursements made pending creation of security within the stipulated period as specified in the Security clause shall carr....
1999 0 Supreme(Kar) 665 • India - Karnataka
V.K.SINGHAL, T.N.VALLINAYAGAM
Issues: The issues revolved around the adjustment and carry forward of brought forward losses/allowances in the context of ... Act (Sections 28 to 43) - The court discussed the provisions of Section 115J of the Income Tax Act, 1961, and its impact on the adjustment ... Ratio Decidendi: The court's decision was based on the interpretation of Section 115J of the Income Tax Act, which required the adjustment ... It is submitted that, when Section 115J is invoked and an assessment order under Section 143(3) is made, obvious....
1991 0 Supreme(Bom) 263 • India - Bombay
D.R.DHANUKA
The defendants have thus failed to prove the alleged adjustment. ... If the compromise amounting to adjustment was not so recorded in the manner prescribed, the executing Court shall not be entitled to recognise or give any effect to the adjustment, even if true. ... An agreement to accept a portion of the decretal amount to be paid in instalments in full satisfaction is an adjustment." ... Firstly, all the compromises pertaining to execution of the decree need not necessarily amount to adjustment of th....
1981 0 Supreme(Cal) 346 • India - Calcutta
SABYASACHI MUKHARJEE, C.K.BANERJEE
If there was such an understanding or adjustment or agreement, the amount would be deductible. ... Whether the amount would be deductible if there was any such understanding or adjustment or agreement. ... Where the liability arose under Section 34(3), it was necessary to determine whether there was an understanding or adjustment or ... If there was any such understanding or adjustment or agreement then the amount would be deductible. ... to carry out the same. ... Even when there was a formal document ....
1999 0 Supreme(Bom) 86 • India - Bombay
R.K.BATTA
Sections 138 and U8-Issuance of cheques with some adjustments-Opposition of cheque being beyond limitation-Liability not an acknowledgement ... that the debt was not legally enforceable at the time of issuance of cheque and the accused could not be punished under Section 138 ... therein that in case a cheque is issued for time barred debt and it is dishonoured, the accused cannot be convicted under Section 138 ... :---The appellant had filed a complaint under section 138 of the Negotiable Instruments Ac....
2018 0 Supreme(P&H) 1204 • India - Punjab and Haryana
MAHABIR SINGH SINDHU
(A) Negotiable Instruments Act, 1881, S.138--Dishonour of Cheque--Quashing--Issuance of Cheque for security ... (Para 11) (B) Negotiable Instruments Act, 1881, S.138 and 141--Dishonour of Cheque--Notice--Offence by Company ... Thereafter a sum of Rs.38,62,860/- was carried forward for the subsequent Financial Year as balance outstanding after adjustment of rebate and discount of Rs.28,47,429/- ... 3. ... Still further, the proviso (b) and (c) to Section 138 lays down the requirement of giving a Notice in writing to the “....
• India - Crimes
M.VENKATESWARA REDDY
P9 memo implies that the cheques were presented for payment/adjustment. if Ex. ... (i) Negotiable Instruments Act, 1881—Section 138—Dishonour of cheque—Acquittal by trial Court on ground that complainant failed to ... 22 and 23) ... (iii) Negotiable Instruments Act, 1881—Section 87 and 138 ... P9 cheque return memo was preceded by presentment of the. cheques for payment/adjustment. ... But such a contingency had not arisen here since the transaction involved is a domestic adjustment. Cannot be it inferr....
• India - Dishonour Of Cheque
M.VENKATESWARA REDDY
Negotiable Instruments Act, 1881—Section 87 and 138 ... P9 cheque return memo was preceded by presentment of the. cheques for payment/adjustment. ... But such a contingency had not arisen here since the transaction involved is a domestic adjustment. Cannot be it inferred who is the payee? In the circumstances of the case, no other inference is possible except to say that the payee is the complainant bank only. ... P9 memo implies that the cheques were presented for payment/adjustment, if Ex. P9 return memo is not there o....
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