FEMA amp; BANKING : Where cheques were bounced on account of them being not acceptable by bank (on account of being non-MICR cheque), said bouncing was not on account of any act or omission of accused and could not be ground for prosecution under section 138 of Negotiable Instruments Act as one of conditions precedent for prosecution
from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316196/cheque-bounced-on-account-of-being-non-micr-cheque-couldn’t-be-a-ground-for-prosecution-us-138-of-ni-act.aspx
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