Bombay High Court

JEM FISCAL LIMITED THROUGH ZOHRA HAKEEMversusBHARATI KHANNA (DECEASED) THROUGH LEGAL HEIR SHARAN KHANNA AND ORS.

Decided: 17 September 2026
Disposal: Disposed Off

Holding

The orders dated 1 August 2026 passed under Section 148 of the Negotiable Instruments Act are quashed and the matters are remanded to the Sessions Judge for fresh determination.

Summary

The petitioner, Jem Fiscal Limited, filed six writ petitions challenging orders of an Additional Sessions Judge made under Section 148 of the Negotiable Instruments Act, 1881 that directed a 30% deposit of the cheque amount. The petitioner argued that the orders were passed without any reasons, contrary to Supreme Court precedent in Jamboo Bhandari v. Madhya Pradesh State Industrial Development Corporation Ltd. The Court, after hearing counsel for both parties, accepted an undertaking by the petitioner to deposit Rs. 50,00,000 and, by consent of the parties, quashed the impugned orders and remanded the matters back to the Sessions Judge for fresh consideration. It also directed that no coercive steps be taken against the petitioner until the applications are disposed of. The writ petitions were disposed of without any order as to costs, keeping all contentions of the parties open.

Issues considered

Whether the order under Section 148 of the Negotiable Instruments Act, 1881 directing a 30% deposit is valid without reasons.
Whether such an order should be set aside in view of the Supreme Court decision in Jamboo Bhandari v. Madhya Pradesh State Industrial Development Corporation Ltd.
Whether coercive steps can be taken against the petitioner pending disposal of the applications.
Whether the matter should be remanded to the Sessions Court for fresh consideration.

Legislation cited

Negotiable Instruments Act, 1881 — s. 148

Subjects

Negotiable Instruments Act
Section 148
Cheque bounce
Deposit order
Writ petition
Quashing order
Remand
Supreme Court precedent
Coercive steps

Judgment

                                           24-29-WP-4675-2026+.DOC




         IN THE HIGH COURT OF JUDICATURE AT BOMBAY
              CRIMINAL APPELLATE JURISDICTION
               WRIT PETITION NO.4675 OF 2026


Jem Fiscal Limited
through Director Zohra Hakeem                    …Petitioner
      Versus
Sharan Khanna & Anr.                             …Respondents

                           WITH
               WRIT PETITION NO.4676 OF 2026

Jem Fiscal Limited
through Director Zohra Hakeem                    …Petitioner
      Versus
Tapin Khanna & Anr.                              …Respondents

                           WITH
               WRIT PETITION NO.4677 OF 2026

Jem Fiscal Limited
through Director Zohra Hakeem                    …Petitioner
      Versus
Bharati Khanna (deceased)
through legal heirs Sharan Khanna & Ors.         …Respondents

                           WITH
               WRIT PETITION NO.4678 OF 2026

Zohra Nazir Hakeem
                                                 …Petitioner
     Versus
Sharan Khanna & Anr.                             …Respondents

                           WITH
               WRIT PETITION NO.4679 OF 2026




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Zohra Nazir Hakeem
                                                      …Petitioner
      Versus
Bharati Khanna (deceased)
through legal heirs Sharan Khanna & Ors.              …Respondents

                               WITH
                   WRIT PETITION NO.4680 OF 2026

Zohra Nazir Hakeem
                                                      …Petitioner
      Versus
Tapin Khanna & Anr.                                   …Respondents


Mr. Pranav Bhadeka, Senior Advocate, Mr. Rutvij Solanki, Ms.
Pooja Kothari, Ms. Anuja Bhansali and Mr. Prathamesh Bhutada
i/b. Rashmikant and Partners, for the Petitioner.
Mr. Kunal Kumbhat a/w. Ms. Himanshi Thakur and Ms. Ananya
Thakoor i/b. Ms. Sunanda Kumbhat, for the Respondents.
Mr. S. V. Walve, APP, for the Respondent-State in WP/4675/2026
and WP/4679/2026.
Mrs. Savita M. Yadav, APP, for the Respondent-State in
WP/4676/2026 and WP/4680/2026.
Mr. S. S. Ghag, APP, for the Respondent-State in WP/4677/2026.
Mr. P. P. Jadhav, APP, for the Respondent-State in WP/4678/2026.


                        CORAM:      MADHAV J. JAMDAR, J.
                        DATED :     17th SEPTEMBER 2026
P. C.:


1.       In all these Writ Petitions, the challenge is to the orders of

learned Additional Sessions Judge passed under Section 148 of the

Negotiable Instruments Act, 1881 directing deposit of 30% of the




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cheque amount. The details of the said orders in the respective

Writ Petitions are as follows:


 Sr.      Writ Petition No.     Case Number Date of Order
 No.
 1. Writ Petition No.4675/2026 Cri.      M.A. 01/08/2026
                               No.728/2026
                               Appeal
                               No.352/2026
 2. Writ Petition No.4676/2026 Cri.      M.A. 01/08/2026
                               No.727/2026
                               Appeal
                               No.353/2026
 3. Writ Petition No.4677/2026 Cri.      M.A. 01/08/2026
                               No.726/2026
                               Appeal
                               No.350/2026
 4. Writ Petition No.4678/2026 Cri.      M.A. 01/08/2026
                               No.723/2026
                               Appeal
                               No.351/2026
 5. Writ Petition No.4679/2026 Cri.      M.A. 01/08/2026
                               No.724/2026
                               Appeal
                               No.349/2026
 6. Writ Petition No.4680/2026 Cri.      M.A. 01/08/2026
                               No.725/2026
                               Appeal
                               No.348/2026



2.       Learned Senior Counsel appearing for the Petitioners states

that no reasons whatsoever have been given while passing the

impugned orders and therefore, the impugned orders passed are




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contrary to the law laid down by the Supreme Court in Jamboo

Bhandari vs. Madhya Pradesh State Industrial DEvelopment

Corporation Limited & Ors.1



3.       On instructions, learned Senior Counsel states that without

prejudice to the rights and contentions of the Petitioners, an

amount of Rs.50,00,000/- (Rupees Fifty Lakh only) will be

deposited before the learned Sessions Court by the Petitioner- Jem

Fiscal Limited within a period of 30 days from today. The said

statement is accepted as undertaking given to this Court.



4.       Mr. Kumbhat, learned Counsel appearing for the Respondent

submits that in view of the law laid down by the Supreme Court in

the case of Jamboo Bhandari (supra), the matters be remanded

back to the learned Sessions Court.



5.       Accordingly, by consent of the parties, the following order is

passed:




1        (2023) 10 SCC 446




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                                ORDER



         (a)   The impugned orders dated 1st August 2026 passed in

               respective Criminal Miscellaneous Applications as per

               the details more particularly set out in the chart in

               paragraph No.1 are quashed and set aside and the

               matters are remanded back to the learned Sessions

               Judge for deciding the said Miscellaneous Applications

               afresh.



         (b)   Till the disposal of the respective Miscellaneous

               Applications, no coercive steps be taken against the

               Petitioners.



         (c)   Without prejudice to the rights and contentions of the

               parties, the Petitioner-Jem Fiscal Limited shall deposit

               an amount of Rs.50,00,000/- (Rupees Fifty Lakh only)

               before the learned Appellate Court on or before 19 th

               October 2026.




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         6.       The Writ Petitions are disposed of in above terms with no

         order as to costs.



         7.       It is clarified that all the contentions of both the parties are

         expressly kept open.




                                                      [MADHAV J. JAMDAR, J.]



       Digitally
       signed by
       SONALI
SONALI MILIND
MILIND PATIL
PATIL Date:
       2026.09.17
       18:51:14
       +0530




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