20% Deposit Mandatory Rule in Cheque Bounce Cases Under NI Act, Waiver Allowed Only in Exceptional Circumstances: Punjab & Haryana High Court
The Punjab and Haryana High Court has clarified an important legal position regarding deposit of compensation at the appellate stage under the Negotiable Instruments Act, 1881. The Court held that deposit of a minimum of 20 percent of the compensation amount under Section 148, Negotiable Instruments Act, 1881 is the general rule when an appeal is filed against conviction under Section 138, Negotiable Instruments Act, 1881, and the burden lies…
