Sec 138 NI Act | Cheque Returned Unpaid With the Endorsement “Account Closed” Constitutes an Insufficient Funds: Allahabad HC

The Allahabad High Court on Monday stated that A cheque returned unpaid with the endorsement “Account Closed” constitutes an insufficient funds scenario under Section 138 of the Negotiable Instruments Act. The bench of Justice Anish Kumar Gupta was dealing with the application filed for quashing of the summoning/cognizance order in the Complaint Case registered under

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