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dr rahul yadav (consultant doctor)     28 March 2016

NIA case for security cheques

What is the legal standing when bank files NIA case for unpaid security cheques kept by bank in case of loan against property? Since this is a secured loan as property is mortgaged , still is this case valid ?please advise.


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SAINATH DEVALLA

SAINATH DEVALLA (LEGAL CONSULTANT)     28 March 2016

If there is dishonour of a cheque issued by way of security and not issued towards discharge of legally enforceable debt or other liability, such dishonour would not come within the purview of Section 138 of the Act.


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