Sec 138 NI Act: Cheque Issued by Vendor to Buyer of Property as Security Not Legally Enforceable Debt, Rules Karnataka HC

In a recent decision, the Karnataka High Court has stated that a cheque issued by a vendor to a buyer of property as security towards pending litigation is not considered a legally enforceable debt. The court clarified that such a cheque does not fall under the ambit of Section 138 of the Negotiable Instrument Act,

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