Dishonour of Cheque Under Section 138 of the Negotiable Instruments Act: Recovery of Money Should Remain Suspended Under Section 22 of SICA, 1985: Supreme Court

The Supreme Court of India decided a batch of appeals filed by Kusum Ingots and Alloys Ltd. and others against Pennar Peterson Securities Ltd. and other respondents. The dispute arose when post-dated cheques were issued by the company towards business liability, but the cheques were dishonoured by the bank due to insufficient funds. After issuance of statutory notice and failure of payment within the prescribed time, criminal complaints were filed…