Monday, April 4, 2011

NEGOTIABLE INSTRUMENTS ACT

Can a cheque issued as a surety by the guarantor be brought U/S 138?

Yes. The words “where any cheque “and “other liability” take care of the liability of a guarantor also. The criminal liability cannot be avoided. In this regard the decision reported in AIR 2002 SC 3014 – ICDS Ltd., Vs. Beena Shabeer and another., is relevant

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