M/S.Bvv Paper Industries Ltd. v. a.Nagaraj
Case brief
What is this about?
The High Court of Madras allowed criminal revisions filed by petitioners in cheque dishonour cases. Accepting the settlement reached via Memorandum of Understanding dated 12.09.2016, the Court acquited the petitioners, compounded the offences, and ordered refund of fines and cancellation of bail bonds.
What did the court decide?
All criminal revisions allowed; offences under Section 138 of NI Act compounded; petitioners acquitted; fines refunded; bail bonds cancelled.