PUNEET DALMIA vs CENTRAL BUREAU OF INVESTIGATION

The Supreme Court ruled that under Section 138 of the Negotiable Instruments Act, the drawer of a cheque is liable for criminal prosecution if the cheque is returned due to insufficient funds, provided that the payee has issued a notice of dishonor and the drawer fails to make payment within 15 days. The Court emphasized the importance of adhering to the statutory requirements for maintaining the integrity of negotiable instruments. The appeal was dismissed, affirming the conviction of the appellant for the offense under Section 138.