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2016 (3) TMI 762 - SUPREME COURT

2016 (3) TMI 762 - SUPREME COURT - TMI - Cheque bounce case - offence punishable under section 138 and 142 of the Negotiable Instruments Act, 1881 - Held that:- section 118(g) contains a mandate that until the contrary is proved the holder of a negotiable instrument shall be presumed to be a holder in due course. Thus, there is no escape for the court from drawing such presumption - Whatever defence has been taken by the accused respondents as pointed out by the learned counsel appearing for the .....

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ourt quashed the criminal prosecution in Criminal Case Nos.237/1998, 232/1998, 233/1998, 238/1998, 236/1998, 103/1998, 231/1998 and 103/1999, by exercising its power under Section 482 of the Code of Criminal Procedure (for short, the 'Code'). The facts of the case lie in narrow compass as under: The appellant Bank filed complaints against the respondents-accused for the offence punishable under section 138 and 142 of the Negotiable Instruments Act, 1881 (for short, the 'Act'). It .....

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under section 482 of the Code for quashing the criminal prosecution, contending that the complainant has not made out any prima facie case so as to attract the ingredients of section 138 of the Act. The main defence taken by the respondents-accused in the petitions for quashing criminal prosecution was that the appellant Bank being a holder in due course cannot maintain a complaint in the absence of a legally enforceable debt between the parties and prosecute the accused persons. The High Court .....

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osecution was quashed. We have heard learned counsel appearing for the parties and perused the record. Learned counsel appearing for the appellant Bank has put heavy reliance on the decision of this Court in the case of Punjab & Sind Bank vs. Vinkar Sahakari Bank Ltd. & Ors. - (2001) 7 SCC 721 and submitted that the holder in due course is entitled to enforce their right and also to file a complaint under section 138 of the Act. We have considered the ratio decided by this Court in the c .....

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