SC ruling on Section 138 of Negotiable Instruments Act

LEGAL DIGEST

The court stated so in the case, Lalit Kumar vs State of Uttar Pradesh. Earlier, two cheques were issued by the directors of a company and they were prosecuted. Meanwhile, there was a settlement under which Rs 5 lakh was to be paid to the creditor. However, this cheque also bounced, leading to another prosecution.

The Allahabad High Court rejected their plea to quash the proceedings. But on appeal, the Supreme Court stated that the latter cheque was issued in terms of a compromise agreement and not to satisfy any debt or payment due. Therefore, the second instance would not invite prosecution under Section 138. The high court judgment was set aside.

 allows appeal of Oriental Insurance Co Ltd: SC

The Supreme Court has allowed the appeal of Oriental Insurance Co Ltd and ruled that a pillion rider in a two-wheeler could not be treated as a third party when an accident has taken place owing to the rash and negligent riding of the scooter and not on the part of the driver of another vehicle.

The Kerala high court had held the insurer liable to pay compensation for the death of a woman who was riding pillion when the accident took place. On the appeal of the company, the Supreme Court set aside the high court judgment. It said that the liability of the insurer does not extend to a pillion rider unless the requisite amount of premium is paid for covering the extra risk.

CESTAT asked to re-examine micronutrient compound issue

The Supreme Court has asked Customs, Excise and Service Tax Tribunal (CESTAT) to reconsider whether micronutrient compounds are chemical products belonging to the

image
Business Standard
177 22
Business Standard

SC ruling on Section 138 of Negotiable Instruments Act

LEGAL DIGEST

BS Repoter  |  New Delhi 



The court stated so in the case, Lalit Kumar vs State of Uttar Pradesh. Earlier, two cheques were issued by the directors of a company and they were prosecuted. Meanwhile, there was a settlement under which Rs 5 lakh was to be paid to the creditor. However, this cheque also bounced, leading to another prosecution.

The Allahabad High Court rejected their plea to quash the proceedings. But on appeal, the Supreme Court stated that the latter cheque was issued in terms of a compromise agreement and not to satisfy any debt or payment due. Therefore, the second instance would not invite prosecution under Section 138. The high court judgment was set aside.

 allows appeal of Oriental Insurance Co Ltd: SC

The Supreme Court has allowed the appeal of Oriental Insurance Co Ltd and ruled that a pillion rider in a two-wheeler could not be treated as a third party when an accident has taken place owing to the rash and negligent riding of the scooter and not on the part of the driver of another vehicle.

The Kerala high court had held the insurer liable to pay compensation for the death of a woman who was riding pillion when the accident took place. On the appeal of the company, the Supreme Court set aside the high court judgment. It said that the liability of the insurer does not extend to a pillion rider unless the requisite amount of premium is paid for covering the extra risk.

CESTAT asked to re-examine micronutrient compound issue

The Supreme Court has asked Customs, Excise and Service Tax Tribunal (CESTAT) to reconsider whether micronutrient compounds are chemical products belonging to the

RECOMMENDED FOR YOU

SC ruling on Section 138 of Negotiable Instruments Act

LEGAL DIGEST

The Supreme Court has ruled that criminal proceedings for issuing a cheque without sufficient balance in the account would be valid only if it is drawn for discharging a debt or liability.

The court stated so in the case, Lalit Kumar vs State of Uttar Pradesh. Earlier, two cheques were issued by the directors of a company and they were prosecuted. Meanwhile, there was a settlement under which Rs 5 lakh was to be paid to the creditor. However, this cheque also bounced, leading to another prosecution.

The Allahabad High Court rejected their plea to quash the proceedings. But on appeal, the Supreme Court stated that the latter cheque was issued in terms of a compromise agreement and not to satisfy any debt or payment due. Therefore, the second instance would not invite prosecution under Section 138. The high court judgment was set aside.

 allows appeal of Oriental Insurance Co Ltd: SC

The Supreme Court has allowed the appeal of Oriental Insurance Co Ltd and ruled that a pillion rider in a two-wheeler could not be treated as a third party when an accident has taken place owing to the rash and negligent riding of the scooter and not on the part of the driver of another vehicle.

The Kerala high court had held the insurer liable to pay compensation for the death of a woman who was riding pillion when the accident took place. On the appeal of the company, the Supreme Court set aside the high court judgment. It said that the liability of the insurer does not extend to a pillion rider unless the requisite amount of premium is paid for covering the extra risk.

CESTAT asked to re-examine micronutrient compound issue

The Supreme Court has asked Customs, Excise and Service Tax Tribunal (CESTAT) to reconsider whether micronutrient compounds are chemical products belonging to the image

Business Standard
177 22

More News

  • Smriti Irani leaves her office after taking charge of the textiles ministry in New Delhi on Wednesday India's first textile city likely to come up in Andhra Pradesh
  • Shutterstock India, US set to sign key logistics agreement
Widgets Magazine

Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard