SAKETH INDIA LTD. Vs. INDIA SECURITIES LTD.

JUDGEMENT

(1.) LEAVE granted.

(2.) THE short question involved in these appeals is whether the complaint filed by the respondent under section 138 of the Negotiable Instruments Act, 1881 is within or beyond time as it is contended that it is not filed within one month from the date on which the cause of action arose under clause (c) of the proviso to section 138 of the Negotiable Instruments Act (hereinafter referred to as "the Act").

(3.) FOR appreciating the contention raised by the learned counsel for the appellants, it would be necessary to reproduce sections 138 and 142 of the Act which are as under :