The Karnataka High Court ruled that prosecution under Section 138 of the Negotiable Instruments Act cannot continue against a former director when a cheque was issued after the company’s dissolution. The Court held that a dissolved company lacks legal existence, making such cheques legally unenforceable.
A Special Court in Bengaluru accepted the Lokayukta police’s closure report in the MUDA land allotment case, giving a clean chit to Chief Minister Siddaramaiah, his wife, and two others.
The court, however, allowed further investigation to continue against other accused and posted the matter for February 9.
A Bengaluru special court has granted the Enforcement Directorate 10-day custody of WinZO co-founders in a money laundering case involving alleged cheating, fund diversion and gaming manipulation. The ED claims the platform generated illegal “proceeds of crime” through deceptive real-money gaming practices.
