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138 N.I. Act

(Querist) 26 January 2010 This query is : Resolved 
can u give me decision of supreme court regarding cheque given as security which is subsequently bounced in N.i. act
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Raj Kumar Makkad (Expert) 27 January 2010
Moderna Radio House versus Whirpool of India Limited 2008 (4) RCR (Criminal) 469 (P & H)
B K Raghavendra Rao (Expert) 27 January 2010

Security cheques also come within the purview of NI Act. A security is that 'I shall pay if he does not'. Legal liability is a component hidden in security.
Adinath@Avinash Patil (Expert) 27 January 2010
I AGREE WITH B.K. RAO

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