Page 24 - BANKING FINANCE November 2018

A U A

EGA

Su re e Cour u ol ok Sa a lear e ue oun in ill
n order to reduce the nu er o che ue dishonour cases ending in courts
on i u ional ali i o
the ok Sa ha assed the egotia le nstru ents
o en a ion law end ent ill he ill ai s to counter the
he Su re e Court has u held the dela ing tactics e lo ed eo le ho ant to
Constitutional a oid a ing che ues issued the nce it gets
alidit o the arlia ent s nod it ill reser e the sanctit o
la allo ing che ue transactions sto ing the ractice o
cess to e col eo le tr ing to deli eratel dela cases through iling o a eals and o tain
lected or ing sta on roceedings
co ensating he ill ro oses to insert a ne ro ision herein a court can order the
States or re enue short all under the dra er o the dishonoured che ue to a interi co ensation to the co
oods and Ser ices a S lainant in a su ar trial or a su ons case u on ra ing o charges he
interi co ensation ill e u to o the a ount o the che ue si i
he Co ensation to States ct
lar ro ision has also een inserted in case o an a eal the dra er o the
is not e ond the legislati e co e
tence o arlia ent a Di ision ench che ue against a con iction he a ellate court a order the a ellant to
de osit at least o the ine or co ensation a arded the trial court
o ustice Sikri and ustice shok
hushan said in its order ronounced he changes ere en isaged a ter the go ern ent recei ed se eral re resen
on ednesda he ruling as gi en on tations ro the u lic including traders relating to endenc o che ue
a S ecial ea e etition S iled dishonour cases t is ro osed to a end the said ct ith a ie to address
the Central o ern ent challenging ing the issue o undue dela in inal resolution o che ue dishonour cases so
an interi order dated ugust as to ro ide relie to a ees o dishonoured che ues and to discourage ri o
assed the Di ision ench o lous and unnecessar litigation hich ould sa e ti e and one said the
the Delhi igh Court state ent o o jects and reason o the ill
he Di ision ench had ruled that he ro osed a end ents ill strengthen the credi ilit o che ues and hel
additional le on the stocks o coal trade and co erce in general allo ing lending institutions including
on hich the co an Mohit Min anks to continue to e tend inancing to the roducti e sectors o the
erals etitioner in the igh Court econo it added
and Res ondent in the Su re e
Court had alread aid Clean nerg ra e ark wi ou or er
Cess in ter s o inance ct hile an international chain o hotels a not ha e a h sical resence in n
it shall not e re uired to ake an
dia it can still in oke the rade Marks ct to seek an injunction against a local
urther a ent
co an i itating its na e and logo

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