be presented repeatedly within its validity period but once notice has been issued and payment not received within fifteen days of the receipt of such notice, payee has to avail the very cause of action arising thereupon and file the complaint. The aforesaid decision was referring to the provisions of Section 142(b) NI Act and it has been observed therein that dishonour of cheque on each presentation gives a fresh right to present it again during the validity period but does not give rise to a fresh cause of action. In respond to the above, Mr. Das, learned counsel for O.P.No.2 cited a decision of the Supreme Court rendered in M/s. Sicagen India Ltd. Vrs. Mahindra Vadineni and others decided on 8th January, 2019 which has referred to a three Judge Bench decision in MSR Leathers Vrs. S. Palaniappan (2013) 1 SCC 177 . It is contended that a criminal liability may be levied even after a second demand notice which is what has been observed in the decision of M/s. Sicagen India Ltd. (supra). In the aforesaid case, two demand notices were issued and no complaint was filed even after the first demand notice and under the above circumstances, the Apex Court concluded that such a complaint after issuance of second demand notice is clearly maintainable. In that case, the complainant had in fact issued first notice demanding repayment of the amount and thereafter, the cheques were again presented and returned with the endorsement ‘insufficient funds’ and since the amount was not paid, the complaint under Section 138 N.I. Act was filed based on the second statutory notice and in the aforesaid background of facts, the Supreme Court in M/s. Sicagen India Ltd. (supra) held that the complaint can be entertained. The decision of MSR Leathers (supra) was examined by the Supreme Court, wherein, it was observed that the object underlying Section 138 N.I. Act is to promote and inculcate faith in the efficacy of banking system and its operations giving credibility to negotiable instruments in business transactions and to create an atmosphere of faith and reliance by CRLMC No.888 of 2012 Page 3 of 4
