Unit IV · Law of Banking and Negotiable Instruments
| Act / instrument | Section | Name |
|---|---|---|
| Negotiable Instruments Act, 1881 | 138 | Dishonour of cheque for insufficiency of funds |
| Negotiable Instruments Act, 1881 | 139 | Presumption in favour of holder |
| Negotiable Instruments Act, 1881 | 141 | Offences by companies |
| Negotiable Instruments Act, 1881 | 142 | Cognizance of offences |
(2000) 2 SCC 745 · Supreme Court of India
Section 138 requires a cheque drawn for a debt, presentation, dishonour, a valid notice and failure to pay within fifteen days; company officers are liable only as section 141 provides.
(2007) 6 SCC 555 · Supreme Court of India
A notice sent to the correct address by registered post is deemed served; the drawer who refuses to receive it cannot plead want of notice.
(2012) 5 SCC 661 · Supreme Court of India
Vicarious liability of a director under section 141 cannot be fastened unless the company is arraigned as an accused.