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2022 (3) TMI 1555 - HC - Indian LawsDishonour of Cheque - legally recoverable debt or not - pre-matured cheques presented for realization were dishonoured - rebuttal of presumption - HELD THAT:- The Apex Court in SRIPATI SINGH [2021 (11) TMI 66 - SUPREME COURT] holds that the contention with regard to cheque being dishonoured and its justification or otherwise, would arise in a circumstance where the debt has not become recoverable and the cheque issued as security has not matured to be presented for recovery of the amount. If the due date as per the terms of agreement for payment has not yet arrived, it does not become a matured event to initiate proceedings under the Act; same is the case at hand. The law with regard to such interference in the proceedings under the Act is that, if documents of unimpeachable character are shown to the Court, the Court has to take that into consideration, as further proceedings should lead to a ground of harassment to the accused. A document if so unimpeachable is produced, the Court has to look into the same to avoid future harassment to the accused. Therefore, in the considered view of this Court, the cheques that were presented had not yet ripened to be presented as they were on a particular contingency to be presented or they were subject to conditions before presentation. Those conditions admittedly have not come about as on the date the cheques were presented. Therefore, the contingency has not even arrived at. Presenting the cheques and initiating proceedings for dishonor of cheques under the Act only results in harassment to the accused and esoteric satisfaction to the complainant. Petition allowed.
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