time-barred debt Archives

Section 138 NI Act on Cheque for Time-Barred Debt

Cheque for Time-Barred Debt Revives Enforceability Under S. 25(3) Contract Act; Dishonour attracts Section 138 NI Act: Rajasthan High Court

“A meaningful reading of Sections 20, 118 and 139 of the NI Act makes it clear that a person who signs a cheque and delivers it to the payee remains liable unless he successfully rebuts the statutory presumptions.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Indemnity obligation on guarantee is not operational debt’; NCLT dismisses CIRP petition due to limitation and Lack of Privity

The NCLT stated that the petitioner neither had a direct contractual relationship with the respondent, nor was the respondent provided with any goods/services, thereby disqualifying them as an operational creditor.