Sri Sujies Benefit Funds Limited vs M. Jaganathuan
Judges (2)
Case Significance
Sri Sujies Benefit Funds Limited vs M. Jaganathuan is a Supreme Court of India decision dated August 13, 2024 (citation: insc-2024-602). A chitfund company appealed against the dismissal of its NI Act Section 138 complaint where the respondent's cheque for Rs. 19 lakhs was dishonoured. The Supreme Court set aside the acquittal and restored the trial court's conviction, directing the respondent to pay a fine of Rs. 28,50,000 (1.5 times the cheque amount). The sentence of imprisonment was waived given the respondent's advanced age (86 years), subject to payment within eight months. The bench comprised Justices Ahsanuddin Amanullah and Hima Kohli. The judgment was delivered by Justice Ahsanuddin Amanullah. Counsel appearing: B. Ragunath (counsel for appellant), S. Nagamuthu (counsel for respondent).
Summary
A chitfund company appealed against the dismissal of its NI Act Section 138 complaint where the respondent's cheque for Rs. 19 lakhs was dishonoured. The Supreme Court set aside the acquittal and restored the trial court's conviction, directing the respondent to pay a fine of Rs. 28,50,000 (1.5 times the cheque amount). The sentence of imprisonment was waived given the respondent's advanced age (86 years), subject to payment within eight months.
What was the outcome of Sri Sujies Benefit Funds Limited vs M. Jaganathuan?
A chitfund company appealed against the dismissal of its NI Act Section 138 complaint where the respondent's cheque for Rs. 19 lakhs was dishonoured. The Supreme Court set aside the acquittal and rest...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (insc-2024-602)