S.138 NI Act | Proceedings For Cheque Dishonour Need To Be Q
S.138 NI Act | Proceedings For Cheque Dishonour Need To Be Quashed Once Complainant Signs Deed Accepting Amount In Final Settlement : Supreme Court
|
In a Criminal Appeal arising out of proceedings under Section 138 of the Negotiable Instruments Act, 1881, the Supreme Court has ruled that once the settlement has been arrived at and the complainant has signed the deed, the proceedings under this provision must be quashed.
"Considering the overall facts and circumstances of the case, we are of the view that once the settlement has been arrived at and the complainant has signed the deed accepting a particular amount in full and final settlement of the default amount and the fine amount awarded by the Trial Court, the proceedings under Section 138 of the NI Act need to be quashed," observed the bench of Justices Vikram Nath and Satish Chandra Sharma.
The instant appeal was filed challenging the September 13, 2017, order passed by the High Court of Himachal Pradesh, Shimla Bench. By its impugned order, the High Court had upheld the conviction of the accused persons/ the present petitioners under Section 138 of the N.I. Act.
However, in the meantime, a compromise deed was entered between the parties. As per this deed, the respondent-complainant agreed to accept a certain amount as full and final settlement of the cheque amount and the fine imposed by the Trial Court and confirmed by the High Court.
Post Categories
Featured Posts
Latest Posts
Latest Posts
"Why Are You Being So Patriarchal?" : Supreme Court Asks Centre Over Denial Of Permanent Commission To Woman Coast Guard Officer
The Supreme Court on Monday (February 19) pulled up the Central Government over the denial of Permanent Commission for women officers in the Indian Coast Guard (ICG). The bench led by Chief Justice of India DY Chandrachud, hearing a plea of ...
Anti-Money Laundering (AML) Compliance: Best Practices for Law Firms
In today's globalized economy, money laundering poses a significant threat to financial systems and institutions, including law firms. As facilitators of various financial transactions, law firms are often targeted by money launderers seeking to legitimize illicit funds. Anti-Money Laundering (AML) ...
Maternity Benefits Must Be Granted Even If Period Of Benefit Overshoots Term Of Contractual Employment: Supreme Court
The Supreme Court on Thursday(17 Aug) held that maternity benefits have to be granted even if the period of benefit overshoots the term of contractual employment. Maternity benefits can travel beyond the term of contractual employment. The court directed the ...
DBS Bank Directors Can’t Be Prosecuted For Acts Of Lakshmi Vilas Bank Before Amalgamation : Supreme Court Quashes Criminal Case
The Supreme Court today ruled that DBS Bank and its directors, who were appointed after the amalgamation with Lakshmi Vilas Bank(LVB) and had their appointments approved by the Reserve Bank of India (RBI), cannot be held criminally liable for actions ...
Understanding Section 11: Why Minors Cannot Contract | Know the Law
📘 Can a Minor Enter Into a Contract? ❌ Absolutely Not.As per Section 11 of the Indian Contract Act, 1872, a person must be of the age of majority (i.e., 18 years or 21 in certain guardianship cases) to enter ...
ED Summons Under PMLA: What to Do and What Not to Do (Complete Legal Guide)
Receiving a summons from the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA) can be intimidating. For many individuals—business owners, directors, promoters, professionals, or even family members—an ED summons creates panic, confusion, and fear of arrest. ...
Speak With Our
Get a Appointment