Proceedings under Section 138 of the NI Act would lie only on any Enforceable Debt: Gujarat High Court [Read Order]

Section 138 - NI Act - Enforceable Debt - Gujarat HC - taxscan

The Gujarat High Court has held that proceedings under Section 138 of the NI Act would lie only in respect of any Enforceable Debt. The applicant, S.M.Smith and Son is a Company registered under the Companies Act, 1956 and is engaged in the business of production of Grey Cast Iron and Nodular Iron (Ductile Iron)…

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