The Allahabad High Court, in a significant ruling, has held that when a Memorandum of Understanding (MOU) specifies that a payment is to be made “before” a certain date, a legally enforceable debt exists prior to that date. The court dismissed petitions seeking to quash proceedings under Section 138 of the Negotiable Instruments Act, 1881,
Debt Payable ‘Before’ a Certain Date Creates Immediate Liability Under NI Act: Allahabad High Court
