In Brief
A forex services company (appellant) issued a USD Travel Currency Card to the respondents, who paid Rs. 19,01,320 but withdrew only partial amounts, leaving a balance due. When cheques issued by the respondents to settle the debt were dishonoured, the forex company filed a complaint under Section 138 of the Negotiable Instruments Act. The trial court and high court acquitted the respondents, finding no legally enforceable debt was established. The Supreme Court reversed, holding that once the accused admits issuing the cheque and its signature, Section 139 presumes a legally enforceable debt exists. The accused failed to rebut this rebuttable presumption through evidence. The Court convicted all respondents and imposed sentences with compensation."
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