Cheque Issued in Running Account Not Time-Barred Debt: Madras High Court Sets Aside Acquittal in NI Act Case

The Madras High Court has set aside an acquittal order in a Negotiable Instruments (NI) Act case, observing that once a “running account” between parties is admitted, the ground of limitation or a “time-barred debt” cannot be raised to escape liability under Section 138. The Court held that while a debt might appearing to be

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