Vikas Jalan vs M/S. Shreya Pet Pvt.Ltd & Ors

The Supreme Court held that upon the deposit of Rs.10 lakhs by the appellant in the Registry, the respondents could withdraw the amount, leading to the quashing of the complaint under Section 138 of the Negotiable Instruments Act, 1881. The Court set aside the impugned order of the High Court, establishing that the resolution of the matter through compensation negates the need for further proceedings. The appeal was disposed of accordingly, emphasizing the importance of settlement in cheque dishonor cases.