Deposit of 20% Compensation Under NI Act Is Not Absolute Rule: Madras HC Remands Matter for Re-evaluation of Exemption Claim

The Madurai Bench of the Madras High Court has held that the requirement to deposit 20% of the compensation amount under Section 148 of the Negotiable Instruments (NI) Act is not an absolute rule. The Court clarified that this percentage can be reduced or even exempted in exceptional cases, provided the appellate court assigns specific

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