Supreme Court on Cheque Bounce
Posted on 17 March, 2023 by Administrator
In a matter of Ajay Kumar Radheshyam Goenka v. Tourism Finance Corporation of India Ltd, The Supreme Court on Thursday reiterated that the insolvency process initiated to recover debt does not absolve accused from criminal liability in cheque dishonour cases. A Bench of Justices Sanjay Kishan Kaul, Abhay S Oka and JB Pardiwala clarified that proceedings under Section 138 of the Negotiable Instruments (NI) Act are penal in character and not mere recovery or suit proceedings. "We are...
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