M/S. MUNOTH INVESTMENTS LTD. vs M/S. PUTTUKOLA PROPERTIES LTD.

The Supreme Court held that the High Court erred in quashing the proceedings under Section 138 of the Negotiable Instruments Act, 1881, on the grounds of improper notice issuance. The Court clarified that the 15-day period for issuing notice should be counted from the date of receipt of information regarding the cheque's dishonor, which in this case was on 17.1.1994 due to Pongal holidays. The appeal was allowed, and the High Court's order was set aside, directing the trial court to proceed with the matter as per law.