Supreme Court Landmark Judgments on the Negotiable Instruments Act

The Supreme Court has delivered several landmark judgments on the Negotiable Instruments Act, including:

Yogendra Pratap Singh v. Savitri Pandey

The Supreme Court ruled that cognizance of an offense under Section 138 of the Negotiable Instruments Act cannot be taken if the complaint is filed before the 15-day notice period is served on the drawer of the cheque.

J.V. Bahurani v. State of Gujarat

The Supreme Court observed that all offenses under Chapter XVII of the Negotiable Instruments Act shall be tried by the Magistrate summarily.

Vinod Tanna Vs. Zaheer Siddiqui

The Supreme Court ruled that returning a cheque unpaid constitutes an offense only if such return is due to want of funds.

Saket India Ltd. vs. India Securities Ltd.

The Supreme Court held that the period of one month is to be reckoned according to British Calendar as defined in the General Clauses Act.

Central Bank of India vs. Saxena Pharma

The Supreme Court ruled that when neither postal acknowledgement nor postal cover is received back by payee the presumption is that notice is served.

Yash Mittal

The Supreme Court held that an authorized signatory of the company could not be considered as a 'drawer' of cheque