M/S. CRANEX LIMITED vs M/S. NAGARJUNA FINANCE LIMITED

The Supreme Court addressed a criminal appeal under Section 138 of the Negotiable Instruments Act, where the appellants had been convicted and sentenced by the Metropolitan Magistrate. The Court noted that a settlement had been reached between the parties, with the appellant depositing the dishonoured cheque amount of Rs. 5,96,688. The Court set aside the High Court's order on interlocutory proceedings and remanded the case to the appellate court to consider the settlement and dispose of the appeal in accordance with law, including the possibility of setting aside the conviction.