‘Dishonour of invalid cheque cannot attract liability u/s 138 of NI Act’; Allahabad HC holds Allahabad Bank cheques to be invalid post 30-09-2021
“From the perusal of Section 138 N.I. Act, it is clear that if any invalid cheque is presented before the Bank and the same was dishonoured, then no liability under Section 138 of NI Act would be attracted, and the cheque of Allahabad Bank is invalid after 30-09-2021 after merging the Allahabad Bank into the Indian Bank on 01-04-2020.”
