Section. 138 NI Act, Once Execution Of Cheque Is Admitted, Dispute Regarding Interest Rate Of Loan No Defence: Supreme Court

In a significant judgment, the Supreme Court of India addressed the case of Sri Sujies Benefit Funds Limited (Appellant) versus M. Jaganathuan (Respondent) concerning the dishonor of a cheque under the Negotiable Instruments Act, 1881 (N.I. Act). The appeal was directed against the High Court of Judicature at Madras' decision which had upheld the acquittal of the respondent by the Appellate Court. Facts of the Case 1. Loan Transactions: The…