M/S Kasan Varnisha And Paint Industries vs Sujay Thapa

ik-45378171 Delhi High Court 24 December 2024 • 19 min read

Judges (1)

Counsel (7)

Ashutosh Sharma Counsel Petitioner Harshit Aggarwal Counsel Respondent K.K. Sharma Counsel Respondent Mohit Sharma Counsel Respondent Rakesh Datt Gahtori Counsel Petitioner Rishabh Rai Counsel Petitioner Vijay Datt Gahtori Counsel Petitioner

Parties (2)

Kasan Varnisha And Paint Industries Petitioner Sujay Thapa Respondent

Case Significance

M/S Kasan Varnisha And Paint Industries vs Sujay Thapa is a Delhi High Court decision dated December 24, 2024 (citation: ik-45378171). The petitioner firm challenged its conviction under Section 138 of the NI Act for dishonour of a cheque of Rs 5,20,000 issued to the complainant who had invested Rs 20 lakhs in the business. The petitioner contended the cheque signatures were admitted but denied the underlying liability. The Court upheld the conviction, holding that once signatures were admitted, presumptions under Sections 118 and 139 of the NI Act applied and the petitioner failed to rebut them on a preponderance of probabi The case was heard by Justice Amit Mahajan.

Summary

The petitioner firm challenged its conviction under Section 138 of the NI Act for dishonour of a cheque of Rs 5,20,000 issued to the complainant who had invested Rs 20 lakhs in the business. The petitioner contended the cheque signatures were admitted but denied the underlying liability. The Court upheld the conviction, holding that once signatures were admitted, presumptions under Sections 118 and 139 of the NI Act applied and the petitioner failed to rebut them on a preponderance of probabilities.

What was the outcome of M/S Kasan Varnisha And Paint Industries vs Sujay Thapa?

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-45378171)