Case Law Analysis
|Himachal Pradesh High Court
Section 138 NI Act | Multi-City Cheque Presented at Non-Home Branch Beyond ₹50,000 RBI Cap Void for Prosecution: HP HC
The Himachal Pradesh High Court ruled that a multi-city cheque presented at a non-home branch exceeding RBI's ₹50,000 cap cannot sustain a criminal prosecution under Section 138 NI Act, even if the debt is admitted. This holding clarifies the intersection of RBI policy and cheque dishonour prosecutions, impacting banking litigation strategies.