Supreme Court Allows Appeal in Negotiable Instruments Act Case — Clarifies Applicability of Section 138. The court held that stopping payment of a post-dated cheque before its due date does not exempt the drawer from liability under Section 138, emphasizing the need to uphold the legislative intent to promote trust in banking transactions....
The case arose from appeals concerning the applicability of Section 138 of the Negotiable Instruments Act, 1881, in situations where a drawer of a post-dated cheque stops payment before the cheque's d...
