S.138 NI Act | Appellate Court Cannot Deny Bail Merely For Non-Deposit Of Compensation: Punjab and Haryana High Court

The Punjab & Haryana High Court has clarified that an appellate court cannot refuse bail to a convict under the Negotiable Instruments Act, 1881, merely on the ground that the convict has not deposited 20% of the compensation amount as directed under Section 148 of the NI Act. This significant ruling comes in a case titled M/s Coromandel International Limited v. Shri Ambica Sales Corporation, where the issue was whether…