Cheque Bounce: 138 NI Act will be Attracted even if the Dishonoured Cheque was issued as Security: SC

Recently, the Top Court observed that dishonor of a cheques issued as security will also be considered an offense u/s 138 of the NI Act (Negotiable Instruments Act). According to a Bench of Justices AS Bopanna and MR Shah, there can’t be a hard and fast rule that a cheque issued as security could never

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