Skyla v. Sree Gokulam Chits and Finance Co. (P) Ltd.
Case brief
What is this about?
A cheque issued by a guarantor as security for the principal debtor's liability was held to involve a legally enforceable debt. Concurrent convictions under Section 138 NI Act were upheld; revision dismissed with three months granted to remit the fine.
What did the court decide?
Three months time to remit the fine amount before the trial court; no coercive steps against petitioner within that period.