P&H: Refuses to quash S.138 cheque bounce case against Managing Director under personal guarantee and acknowledged liability after dishonour
The Punjab and Haryana High Court has refused to quash a cheque bounce complaint filed against the Managing Director of a real estate company, holding that the case disclosed a prima facie offence under Section 138 of the Negotiable Instruments Act.
The dispute arose from an agreement to sell two residential units in a housing project at Noida. According to the complainant, the full sale consideration of Rs.45 lakh had already been paid, and the agreement provided that if the sale deed was not executed by 30 September 2018, the amount would be refunded.
The complainant said the company issued...
