Supreme Court · 2016 INSC 887 · Decided 19 September 2016
Sampelly Satyanarayana Rao v. Indian Renewable Energy Development Agency Limited
- Court
- Supreme Court of India
- Citation
- 2016 INSC 887 · [2016] 6 S.C.R. 531
- Case number
- CRIMINAL APPEAL No. 867/2016
- Decided
- 19 September 2016
- Bench
- DIPAK MISRA, ADARSH KUMAR GOEL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Criminal
- Acts & sections cited
- NI Act Section 138
Headnote
Negotiable Jnsn•uments Act, 1881 : s. 138- Dishonour of post-dated cheques given for repayment of loan installment and described as "security" in loan agreement, if covered uls. 138 - Held: ·Applicability of s.138 depends on whether the cheque represents discharge of or it represents advance payment without there being-subsisting debt or liability-Thus. i/bJJ the date of the cht;que. liability or debt exists , 'or the ainount becomes legally recoverable, s.138 is attracted and not otherwise.:_ In the instant case, loan was disbursed prioi· io
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