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
Huge costs are being imposed on Indian foreign policy because of the domestic drift in the country's polity
While Moody's expects capital inflows to Asia Pacific to moderate in 2015, offshore borrowing costs will remain below historical norms