S.138 NI Act Attracted if ‘Security Cheque’ is Dishonoured Against Existing Debt: Himachal Pradesh High Court

The Himachal Pradesh High Court has dismissed a criminal revision petition filed by one Daulat Ram, affirming his conviction under Section 138 of the Negotiable Instruments (NI) Act. The Court held that even a cheque issued as a “security” can be presented for encashment if the underlying debt is not repaid, and its dishonour attracts

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