PUNJAB & SIND BANK vs VINKAR SAHAKARI BANK LTD. .

The Supreme Court addressed the issue of whether a Pay Order qualifies as a cheque under Section 138 of the Negotiable Instruments Act, 1881. The Court held that the Pay Order in question does not meet the definition of a cheque as outlined in Section 6 of the Act, which requires it to be a bill of exchange drawn on a specified banker. Consequently, the Court upheld the High Court's decision to quash the complaint filed by Punjab & Sindh Bank, affirming that the complainant lacked locus standi as it was not a holder in due course under Section 50 of the Act.