Cheque Dishonour on Valid Loan Grounds for Prosecution Under Section 138 NI Act, Lending License Not Required: Rajasthan HC

In a significant ruling, the Rajasthan High Court has clarified the scope of prosecution under Section 138 of the Negotiable Instruments Act, 1881, emphasizing that the dishonor of a cheque against a valid loan is sufficient for prosecution, regardless of whether the drawee possesses a money lending license. The judgment was delivered by Justice Arun

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