Sri Sujies Benefit Funds Limited vs M. Jaganathuan

The Supreme Court upheld the conviction under Section 138 of the Negotiable Instruments Act, 1881, affirming that the issuance of a cheque for a loan amount, which was subsequently dishonored due to 'Account Closed', constitutes an offence under the Act. The Court emphasized that the statutory notice requirement was duly fulfilled by the complainant, and the accused's repudiation of the debt does not absolve him of liability. The appeal against the High Court's dismissal was therefore rejected, maintaining the lower court's judgment.