In Brief
This appeal concerns the conviction of the appellant under Section 138 of the Negotiable Instruments Act, 1881 for issuing a cheque that was dishonoured. The appellant had issued a cheque from a firm's account to refund advance money from a property sale agreement that could not be completed. The trial court acquitted him, but the High Court reversed this, holding that the appellant failed to rebut the statutory presumption under Section 139 of the Act, as he did not dispute his signature on the cheque. The Supreme Court upheld the conviction but reduced the fine from Rs. 5,00,000 to Rs. 2,80,000, finding the original amount disproportionate to the circumstances.
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