Section 138 NI Act | Mumbai Court Convicts Pharma Company In Cheque Dishonour Case, Imposes Fine Of ₹1.83 Crore

Elder Pharmaceuticals and Ankola Paper Mills faced dishonor of cheque cases under Section 138 of the Negotiable Instruments Act. The cases involved alleged offenses related to the dishonoring of cheques issued by these companies. The provisions under Section 138 focus on the penal consequences for dishonoring a cheque, and the courts are tasked with determining whether the companies had failed to honor their financial commitments. These cases underline the importance of adhering to financial obligations in business transactions.