Presumption of debt in NI Act
vinod bansal
(Querist) 27 April 2009
This query is : Resolved
R/All
Whether initial transaction is required to be proved.what is the latest law/citation for presumption of debt.Thanks
Neeraj Arora (9897136755)
(Expert) 27 April 2009
Mr. Vinod, For fileing case under 138 N.I.Act, NO initial transaction is required to be prove. only you shuld have a chaque of OP.
A V Vishal
(Expert) 27 April 2009
http://www.icai.org/resource_file/11185p91-93.pdf
Dear Bansal,
A good article to clear your doubts and it has some citations too......
Kiran Kumar
(Expert) 28 April 2009
only intitial presumption is in favour of complainant, i.e. for the purpose of issuing process, but later on the transaction is needed to be proved, pls refer to Krishna's judgment of 2008 widely reported.
u ll find it in the RCR criminal as well.
i ll give the citation by evening.
adv. rajeev ( rajoo )
(Expert) 28 April 2009
regarding the presumption of debt u can go thru., the recent judgement of supreme court 2008. U sms ur postal address so I can send the judgement of Karnataka High Court as well as supreme court
My address
Rajeev s vadrali
advocate
K.C.Rani Road,
GADAG(Karnataka)
9448230014 9886714997
Y V Vishweshwar Rao
(Expert) 29 April 2009
Mr Kiran Kumar Views are Correct !
Thanks Mr Vadrali for the help extended by you to the Advocates
MANISH
(Expert) 29 April 2009
Dear Mr. Bansal,
Section 139 of NI Act makes the point clear. The only thing you require in a proceeding of 138 is the dishonourment of cheque. Section 139 says that if a cheque is tendered, then there is the initial presumption that the cheque was issued in discharge of some debt or liability.
There are a few recent judgments also in this regard. Of supreme court as well as of various High Courts.
You may refer to any journals in law library.
Sachin Bhatia
(Expert) 06 October 2009
Agreed with Mr. Manish, The only thing you require in a proceeding of 138 is the dishonourment of cheque.