Pulling up Rajpal Yadav for not depositing Rs 5 crore despite repeated orders, the Supreme Court said it had so far overlooked the actor’s conduct only to secure money for the complainant, and gave him one last chance till Tuesday before it takes up his appeal against conviction. New Delhi: The Supreme Court on Monday […]
The Supreme Court gave actor Rajpal Yadav a last opportunity to return with a concrete proposal, including a draft of at least Rs 2 crore, in cases arising from the dishonour of seven cheques. His counsel sought two weeks, citing property that would be sold to raise the money. The Bench listed the matter for October 5.
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.
Nitin Tawade, a Thane businessman, has been sentenced to one year in jail and fined Rs 20 lakh for issuing four bounced cheques totaling Rs 10 lakh. The court emphasized protecting the financial interests of a minor girl involved, warning that failure to pay the fine would result in an additional six months of imprisonment.