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2001 (7) TMI 1178 - SC - Companies LawDid the payee issue notice within 15 days after the first dishonour of the cheque? Held that:- Appeal dismissed. The appellants have not stated that the interval between the date of the earlier dishonour of the cheque and the notice dated 1-12-1995 did not exceed the statutory period of 15 days. To a query by us the learned counsel for the appellants candidly admitted that the notice of 1-12-1995 was issued only after the expiry of 15 days from receipt of the intimation from Bank regarding the dishonour. If so, the said dishonour remained without any further escalation and need not snowball into a cause of action. Its corollary is that the payee was not prevented from presenting the cheque once again within the permitted period and to make use of such presentation and the subsequent dishonour for a cause of action to be founded for launching a complaint as in the present case.
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