Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2018 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (11) TMI 1094 - MADRAS HIGH COURTDishonor of Cheque - section 138 of Negotiable Instruments Act - failure to rebut the presumption under section 138 of Negotiable Instruments Act - only ground raised by the revision petitioner is that the cheques were given for security purpose and the same was however misused despite of receipt of entire sale consideration of ₹ 13,50,000/-. Held that:- The property was sold for a sum of ₹ 33,11,000/-. Therefore this court is not in a position to accept the case of the revision petitioner projecting as if the property was sold at ₹ 13,50,000/- and the entire sale consideration was paid - It is equally important to note that there is neither any evidence nor any documents put forth by the revision petitioner supporting his case. Though it is claimed by the revision petitioner that the entire sale consideration was paid as per his promise, absolutely there is no material or a piece of paper to support his claim. The statutory presumption raised under section 118 of Negotiable Instruments Act as against the revision petitioner as subject cheques were issued for the sum indicated in the cheque towards a legally enforceable debt and liability, which the revision petitioner had to repay to the original complainant towards the sale price received by him as power agent. In the case on hand admittedly while drawing a presumption in favor of the respondent as contemplated under section 139 of Negotiable Instruments Act, that the cheques were issued to the complainant for the discharge of debt or other liability, the fact remains that such presumption is not rebutted by the revision petitioner - there is no irregularity or infirmity over the findings of the courts below holding the revision petitioner guilty of offence under section 138 of Negotiable Instruments Act. This court had also ensured that all the statutory requirements falling under section 138(a-c) of NI Act is duly complied with before institution of the subject complaint. The Criminal revision fails and is dismissed.
|