Case Law Analysis
|Bombay High Court
Section 138 NI Act | Holder in Due Course Must Prove Proprietorship of Payee Firm with Documentary Evidence : Bombay HC
Bombay High Court rules that a complainant claiming 'holder in due course' status under Section 138 NI Act must substantiate proprietorship of the payee firm with documentary proof, not mere assertions. The ruling sets a precedent for stricter evidentiary standards in cheque dishonour cases, impacting creditors and businesses relying on negotiable instruments.