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2024 (5) TMI 661 - SUPREME COURTDishonour of Cheque - insufficiency of funds - cheque issued in discharge of a debt or not - rebuttal of presumption in terms of Section 118 read with Section 139 of NI Act - HELD THAT:- The High Court found that the debt/liability, in discharge of which, according to the petitioner, the cheques were issued, did not reflect in the petitioner’s balance-sheet. The other partners of the firm did not depose as prosecution witnesses to establish that the cheque-amounts were advanced to the accused as financial assistance. The respondent no.1/accused has put up a plausible defence as regards the reason for which the petitioner’s funds had come to her account. Both the appellate fora, on going through the evidence did not find existence of any “enforceable debt or other liability”. This strikes at the root of the petitioner’s case. As the impugned decision is primarily based on considering the evidences produced by the respective parties, it is not considered necessary to individually deal with the ratio of the respective decisions relied on by the learned senior counsel representing the parties. The principles emerging from these authorities have been applied in the judgment of the High Court. Petition dismissed.
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