Tuesday, July 8, 2025

SECTION 148 of Negotiable Instruments ACT- waiver of pre-deposit IN APPEAL

 

SECTION 148 of Negotiable Instruments ACT- waiver of pre-deposit IN APPEAL

The Supreme Court in a matter reported as INSC 1046 ( Criminal Appeal No. 5491/2024 arising out of SLP (Crl) 8072/2024 and captioned as  Muskan Enterprises & Anr Vs The State of Punjab & Anr have comprehensively dealt with the provisions of the section 148 of Negotiable Instruments Act (In short “NI Act”) and mandate of the section, besides, permissibility of pre-deposit waiver in appeal filed by the convicted accused, and situation, if could be considered for such purposes.

Before proceeding further, the Section 148 of Negotiable Instruments Act may be perused for ready reference:

“148. Power of Appellate Court to order payment pending appeal against conviction.—

(1)   Notwithstanding anything contained in 8 the Code of Criminal Procedure, 1973 (2 of 1974), in an appeal by the drawer against conviction under Section 138, the Appellate Court may order the appellant to deposit such sum which shall be a minimum of twenty per cent of the fine or compensation awarded by the trial Court:

Provided that the amount payable under this sub-section shall be in addition to any interim compensation paid by the appellant under Section 143-A.

(2) The amount referred to in sub-section (1) shall be deposited within sixty days from the date of the order, or within such further period not exceeding thirty days as may be directed by the Court on sufficient cause being shown by the appellant.

(3) The Appellate Court may direct the release of the amount deposited by the appellant to the complainant at any time during the pendency of the appeal:

Provided that if the appellant is acquitted, the Court shall direct the complainant to repay to the appellant the amount so released, with interest at the bank rate as published by the Reserve Bank of India, prevalent at the beginning of the relevant financial year, within sixty days from the date of the order, or within such further period not exceeding thirty days as may be directed by the Court on sufficient cause being shown by the complainant.”

                             LEGAL PERSPECTIVE

What is significant is that the legislature has used both the verbs ‘may’ and shall’ in sub-section (1) of Section 148, Negotiable Instruments Act, but, in different contexts. As we read and understand the sub-section, what we find is that the verb ‘may’, implies discretion; and, if intended to have its natural meaning, it would refer to the discretion left to the Appellate Court to determine as to whether such court should order any deposit to be made by the appellant or not pending hearing of the appeal against the conviction and sentence recorded by the trial court. What Jamboo Bhandari v. Madhya Pradesh State Industrial Development Corporation Ltd. and Ors (2023) 10SC 446. lays down is that deposit may not be ordered if the Appellate Court finds a case to be exceptional not calling for a deposit and the reasons for not ordering a deposit are recorded in the order. On the contrary, the verb ‘shall’ used in the same sentence and distanced from the verb ‘may’ by 8 (eight) words, typically implies an obligation or duty that is referrable to the quantum of deposit, that is, the deposit, in any case, must not be less than 20% of the fine or compensation awarded by the trial court. What follows is that once the Appellate Court is satisfied that a deposit is indeed called for, in an appropriate case, such court’s power is in no way fettered to call upon the appellant to deposit more than 20% of the awarded compensation, but in no case can it be less than 20%. Interestingly, while the proviso to 11 sub-section (1) and sub-section (2) of Section 148 use ‘shall’ in the relevant context, sub-section (3) again reverts to ‘may’ and its proviso to ‘shall’. User of the verbs ‘may’ and ‘shall’ in different contexts in the same section is clearly suggestive of the legislative intent to mean what it said.

The Supreme Court, while veering around the fact that appellate court implicitly have discretion in waiving “mandatory pre deposit” since, there may arise a case before the Appellate Court, when such court may prima facie form an opinion, even in the course of perusing the impugned order and thus could reasonably ascertain as to what would be the appropriate quantum of fine or compensation for a pre-deposit. There may be a situation that, appellate court may find order of conviction and sentencing of accused by trial Court, completely erroneous and that in probability in due course, the order recording conviction and sentencing could be set aside and thus, appellate court may reasonably come to an opinion that ordering a pre-deposit could be unnecessarily burdensome for the appellant. If such a firm opinion is formed on the basis of bare perusal of impugned order and appeal paper book and it may further occur that the order was passed and sentence recorded after bypassing the mandatory procedural requirements of the N.I. Act, then, in such  situation, saddling the appellant with pre-deposit may inflict irretrievable injury to the appellant may be severely prejudicial to the appellant and hence, it could not be fathomed that the appellate court shall be vested with no discretion. Therefore, when the conviction order and sentencing is found vitiated prima facie, or the vital evidence , though, was palpable, but ignored and still further if the trial court has completely mis-appreciated the evidence, the saddling of necessity of pre-deposit may inflict incalculable injury to the appellant. Yet another dimension could be that the compensation awarded by the trial court could be far excessive and even outrageous, so as to shake judicial conscience, and thus, in such a situation it cannot be comprehended that appellate court shall have no discretion as regards waiving pre-deposit. As a court of appeal the appellate court has to render complete justice and truncating of the power of appellate court cannot be the object of the section relating to pre-deposit. The situation as depicted above , according to the Supreme Court is only illustrative and may be taken as indicative only. The use of the word “may” and “shall” in the recitation of the words in section 148 also indicates that discretion is vested in the appellate court as regards waiver of requirement of pre-deposit and extent of pre-deposit. In the above backdrop and in case situation as depicted above is noticed, it would amount to a travesty of justice, if exercise of discretion, which is provided for by the legislature and in the situation calling for its invocation, is not permitted to be exercised by the Appellate Court. The judicial interpretation of ‘may’ being read as ‘shall’ in sub-section (1) of Section 148 cannot therefore be comprehended. If the aggrieved appellant is forced to make a deposit of minimum 20% of the fine or compensation awarded by the trial court, even when probable contrary opinion of the Appellate Court shall be contrary to the letter and spirit of the section 148 of NI Act. It may turn out as t ironical, if the conviction and sentence is found to be perverse even on the basis of cursory perusal of order of conviction and sentencing, thus, if it is assumed that despite overwhelming situation in favour of the appellate, the appellate court shall, still be denuded with discretion of waiving pre-deposit, it cannot be so understood, as even the bare perusal of section 148 of NI Act in entirety does not suggest so. No doubt, in ordinary course, the discretion of the Appellate Court should lean towards requiring a deposit, depending upon the facts and circumstance in every individual case, but in a situation when the judgment of trial court and order of sentencing is found to be perverse, the order of waiving of pre-deposit and discretion in this regard has to be exercised.  As a matter of fact, it is implicit from the bare recitation of section 148 of NI Act that discretion is vested in the appellate court, since,  the legislature has used ‘shall’ instead of ‘may’ in sub-section (1) and if the sub- section, read as a whole, it reveals that ‘may’ has been used twice and ‘shall’ thrice, it must be presumed that the legislature was well and truly aware of the words used which form the skin of the language. It is the duty of the Court to cull out the intention of legislature in Reading and understanding the words used by the legislature not only in the literal sense, but also in effect. It is the duty cast on the courts to avoid a situation leading to manifest absurdity. Therefore, holistic reading of section 148 of the NI Act, itself implies that discretion as regards pre-deposit or its waiver is available to the appellate court.

The interpretation of statute depends on the bare text and the context – relegating the one against other shall defeat the purpose. It is to be understood that the text represents the texture and the context imparts and the interpretation shall have to be contextual. No doubt, the legislative intent shall have to be firstly seen with the prism of legislature and the way it is provided for, but, the duty is cat on the Court to look into the enactment as a whole and in pith and substance and each section, each clause, each phrase and each word has to be understood in the context of what it means and how it is designed to fit into the scheme of the entire enactment, hence, purposive interpretation is squarely in the domain of courts. How, the words are to be interpreted and manner of interpreting a statute could be discerned from the decision of Supreme Court in Reserve Bank of India v. Peerless General Finance & Investment Co. Ltd AIR 1987 SC1023. What Jamboo Bhandari (supra) lays down is that deposit may not be ordered if the Appellate Court finds a case to be exceptional not calling for a deposit and the reasons for not ordering a deposit are recorded in the order.

                             FACTUAL MATRIX

In Muskan Enterprises (Supra), Shorn of unnecessary details, conviction for offence punishable under Section 138 of the Negotiable Instruments Act, 1881 had been recorded against the appellants by the Judicial Magistrate, 1st Class, and resultantly, the proprietor of the first appellant was sentenced to 2 years’ rigorous imprisonment and in addition thereto, under Section 357(3), Cr. PC. they were directed to pay compensation of Rs.74,00,000/- (double the cheque amount) to the complainant who was given the liberty to recover the same from the appellants.

In appeal before the ld Sessions Court, the ld Sessions Court had suspended the sentence of appellant till disposal of the appeal and was granted bail. The appellant was directed to deposit 20% of the compensation amount awarded by the trial magistrate within a period of sixty days in the court below, being of the view that such a deposit (of 20%) was imperative. The complainant was given liberty to withdraw the deposit subject to furnishing an undertaking that the same would be returned, if the appellants succeeded in the appeal.

Imposition of such condition by the Sessions Court for deposit of 20% of the compensation awarded by the trial magistrate was questioned by the appellants before the High Court in a petition filed under Section 482 of Cr. PC. It is relevant to point out that at that time Surinder Singh Deswal @ Col. S. S. Deswal vs Virender Gandhi 2019 (11) SCC 341 was governing the field on interpretation of Section 148 of the N.I. Act. The said decision held the condition for deposit in terms of Section 148, Negotiable Instruments Act as mandatory. In the face of this, the petitioner had to withdraw the petition from the High Court and accordingly, an order was passed to the effect that the petition stands dismissed as withdrawn.

The relevant paragraph of judgment rendered in Surinder Singh Deswal (Supra) is as under :-

“Now so far as the submission on behalf of the appellants that even considering the language used in Section 148 of the NI Act as amended, the appellate court “may” order the appellant to deposit such sum which shall be a minimum of 20% of the fine or compensation awarded by the trial court and the word used is not “shall” and therefore the discretion is vested with the first appellate court to direct the appellant-accused to deposit such sum and the appellate court has construed it as mandatory, which according to the learned Senior Advocate for the appellants would be contrary to the provisions of Section 148 of the NI Act as amended is concerned, considering the amended Section 148 of the NI Act as a whole to be read with the Statement of Objects and Reasons of the amending Section 148 of the NI Act, though it is true that in the amended Section 148 of the NI Act, the word used is “may”, it is generally to be construed as a “rule” or “shall” and not to direct to deposit by the appellate court is an exception for which special reasons are to be assigned. Therefore, amended Section 148 of the NI Act confers power upon the appellate court to pass an order pending appeal to direct the appellant-accused to deposit the sum which shall not be less than 20% of the fine or compensation either on an application filed by the original complainant or even on the application filed by the appellant-accused under Section 389 CrPC to suspend the sentence. The aforesaid is required to be construed considering the fact that as per the amended Section 148 of the NI Act, a minimum of 20% of the fine or compensation awarded by the trial court is directed to be deposited and that such amount is to be deposited within a period of 60 days from the date of the order, or within such further period not exceeding 30 days as may be directed by the appellate court for sufficient cause shown by the appellant. Therefore, if amended Section 148 of the NI Act is purposively interpreted in such a manner it would serve the Objects and Reasons of not only amendment in Section 148 of the NI Act, but also Section 138 of the NI Act. The Negotiable Instruments Act has been amended from time to time so as to provide, inter alia, speedy disposal of cases relating to the offence of the dishonour of cheques. So as to see that due to delay tactics by the unscrupulous drawers of the dishonoured cheques due to easy filing of the appeals and obtaining stay in the proceedings, an injustice was caused to the payee of a dishonoured cheque who has to spend considerable time and resources in the court proceedings to realise the value of the cheque and having observed that such delay has compromised the sanctity of the cheque transactions, Parliament has thought it fit to amend Section 148 of the NI Act. Therefore, such a purposive interpretation would be in furtherance of the Objects and Reasons of the amendment in Section 148 of the NI Act and also Section 138 of the NI Act.”

However, subsequently, the decision of another judgment by coordinate bench of Supreme Court, reported as Jamboo Bhandari (Supra) was pronounced and upon consideration of the law laid down in Surinder Singh Deswal (supra), the bench in Jamboo Bhandari (supra) proceeded to hold as follows: -

“6. What is held by this Court is that a purposive interpretation should be made of Section 148 of the NI Act. Hence, normally, Appellate Court will be justified in imposing the condition of deposit as provided in Section 148. However, in a case where the Appellate Court is satisfied that the condition of deposit of 20% will be unjust or imposing such a condition will amount to deprivation of the right of appeal of the appellant, exception can be made for the reasons specifically recorded.

7. Therefore, when Appellate Court considers the prayer under Section 389 of the Cr. P.C. of an accused who has been convicted for offence under Section 138 of the N.I. Act, it is always open for the Appellate Court to consider whether it is an exceptional case which warrants grant of suspension of sentence without imposing the condition of deposit of 20% of the fine/compensation amount. As stated earlier, if the Appellate Court comes to the conclusion that it is an exceptional case, the reasons for coming to the said conclusion must be recorded.”

The Second petition u/s 482 Cr.PC was therefore filed by the petitioner/appellant before the High Court in view of Jamboo Bhandari (Supra), but the high court did not entertain that being the subsequent petition. The appellant was before the Supreme Court inter alia on the issue that in the case of the appellant waiver of pre-deposit while entertaining appeal against the conviction and sentence ought to have been granted, but not granted by the Courts below.  

That it may be noted that the decisions in Surinder Singh Deswal (supra) and Jamboo Bhandari (supra) have been rendered by coordinate bench of Supreme Court with equal strength. The legal position is also clear that if a cleavage of opinion is discernible as herein owing to Jamboo Bhandari (supra), seeking to explain the law by reading a limited discretion that an Appellate Court has been conferred with by sub-section (1) of Section 148 of NI Act. The decision of the latter bench is to be considered as law. Though, in case of conflict of opinion, larger bench ought to be constituted for arriving at a conclusion.

The supreme Court in Muskan Enterprises (Supra) has held that a reference to a larger bench would have been appropriate in view of the divergent views expressed in the said decisions, yet the later view expressed in Jamboo Bhandari (supra); was followed by the Supreme Court while assigning reasons:

“Law is well-settled that user of the verbs ‘may’ and ‘shall’ in a statute is not a sure index for determining whether such statute is mandatory or directory in character. The legislative intent has to be gathered looking into other provisions of the enactment, which can throw light to guide one towards a proper determination. Although the legislature is often found to use ‘may’, ‘shall’ or ‘must’ interchangeably, ordinarily ‘may’, having an element of discretion, is directory whereas ‘shall’ and ‘must’ are used in the sense of a mandatory provision. Also, while the general impression is that ‘may’ and ‘shall’ are intended to have their natural meaning, it is the duty of the court to gather the real intention of the legislature by carefully analysing the entire statute, the section and the phrase/expression under consideration. A provision appearing to be directory in form could be mandatory in substance. The substance, rather than the form, being relevant, ultimately it is a matter of construction of the statute in question that is decisive”.

In Muskan Enterprises (Supra) therefore, the impugned order of the High Court was set aside and the matter was remitted to the Sessions Court to re-examine the issue of ordering deposit and for passing necessary order. Whether sufficient ground is made out by the appellants to persuade the Sessions Court not to order any deposit is left entirely to its discretion and satisfaction.

Kerala High Court

The Kerala High Court in Baiju vs. State of Kerala 2023 SCC OnLine Ker 10204, while dealing with Section 148 of the NI Act and similar circumstances involved has also held as under:-

“7. In the above Section, it is clearly stated that the appellate court may order the appellant to deposit such sum which shall be a minimum of 20% of the fine or compensation awarded by the trial court. There are two limbs in Section 148(1) of the Negotiable Instruments Act. First, the appellate court has to decide, whether to order the appellant to deposit the fine or compensation awarded by the trial court. The second limb is that, once it is decided to order deposit of fine or compensation, a minimum of twenty percent of the fine or compensation is to be ordered to deposited. Therefore, the duty of the appellate court is firstly to decide whether such a deposit is to be ordered. As observed by the Apex court in Jamboo Bhandari's case (supra), when an accused applies under S. 389 of the CrPC for suspension of sentence, he normally applies for grant of relief of suspension of sentence without any condition. Therefore, when a blanket order is sought by the appellants, the Court has to consider whether the case falls within the exception or not. The appellate court while suspending a sentence cannot pass a blanket order in all cases to deposit 20% of the fine or compensation without assigning any reason. Moreover, once the court has decided to order deposit as per Section 148(1) of the Negotiable Instruments Act, the amount of deposit ordered by the Court can be varied from the minimum 20% of the fine or compensation to a higher percent of the fine or compensation. That also shows that a speaking order is necessary. Even if the court is imposing 20% of the fine or compensation as a condition for suspending the sentence, in the light of the principle laid down by the Apex Court”.

                             

Delhi High Court

In Anuj Ahuja Vs Sumitra Mittal CRL.M.C. 1327/2025 , the Delhi High Court taking note of Jamboo Bhandari (Supra) has held as under: 

“19. In view of the aforesaid, such an order asking an appellant (like the petitioner herein) to deposit 20% of the fine or compensation awarded by the learned MM in a complaint under Section 138 of the NI Act, passed by the appellate Court (like the learned ASJ herein) while dealing with an appeal under Section 148 of the NI Act, has to reflect due application of mind as it ought not to be passed mechanically. Prima facie, therefore, in the considered opinion of this Court for exercising the discretion and relaxation in exceptional cases, as and when the need so arises, the appellate Court (like the learned ASJ herein) has to bear in mind various surrounding circumstances like those relating to the nature of transaction(s) involved; the relationship(s) inter-se the parties involved; the quantum of amount involved; the financial capacity of the parties; is the condition of deposit of 20% imposed upon the an appellant (like the petitioner herein) going to hamper the right of appeal of such an appellant, particularly, since the appellant (like the petitioner herein) is going to be called upon to deposit 20% of the fine or compensation awarded by the learned MM at the very initial stage itself, without the appellate Court (like the learned ASJ herein) proceeding to hear the appeal on merits involved, amongst other factors”.        

 

Allahabad High Court

In Anil Mittal vs State of UP & Anr Neutral Citation No. - 2024:AHC:128997. It is held as under:

“7. From the plain reading of Section 148 (1)  of the N.I. Act, the deposit of 20 percent of the amount of fine/compensation as awarded by the trial court, appears to be discretionary in nature However, such discretion ought to be exercised by the Appellate Court in exceptional circumstances. Ordinary, no appeal could be entertained without the said deposit and proviso to sub-section (1) of Section 148 of the N.I. Act also provides that if any amount under Section 143 (A) of the N.I. Act was deposited by the accused/appellant, the amount which is required to be deposited under Sectio0n 148 (1) of the N.I. Act, is in addition to the same and shall not be adjusted against the amount already paid during the trial”.

RETROSPECTIVE APPLICATION OF SECTION 148

Yet another dimension of appeal under section 148 of Negotiable Instruments Act is that the provision of the appeal and mandatory pre-deposit shall be retrospective in operation and thus it implies that the complaint relating to pre-amendment i.e pre 2018 shall also entails that the amended section 148 of Negotiable Instruments Act shall apply in case, the complaint was pending before the amendment.

                                      CONCLUSION

On the basis of the aforesaid discussion, the prescription of section 148 of Negotiable Instruments Act, as emerges is that while staying operation of judgment of sentencing and/or conviction, the appellate court may call upon the appellant to deposit 20% of the awarded amount by the Magistrate, by way of fine and/or compensation as a norm, unless, the appellant is able to show exceptional circumstances entitling him/her to claim waiver of pre-deposit inter alia on the premises that the impugned order which is appealed against is so perverse that the same is liable to be set aside and mandatory procedure as per law is completely ignored by the trial court and/or such exceptional grounds that may be available to the appellant. As elaborated above, the Section 148 of the Negotiable Instruments Act has been inserted in the statute book by way of amendment in 2018 and the same is aimed to accord some interim payment to the successful complainant. Moreover, even if the complainant in the course of proceedings before the Magistrate is already granted 20% amount as interim compensation, the same shall not be factored in the pre-deposit in the appellate court and 20% in addition thereto, as a pre-deposit shall have to be paid. The amount of pre-deposit so made can be withdrawn by the complainant subject to furnishing security that in the event of appellant succeeding in appeal, the amount of pre-deposit so received shall be liable to be returned to the appellant with due interest thereon as may be ordered. The stipulations as regards pre-deposit to the extent of 20% of the awarded amount by way of compensation or fine imposed by the Magistrate is therefore deemed to be a mandate of law.  In fact, the Supreme Court had ruled in favour of pre-deposit in appeal in a matter reported as Surinder Singh Deswal (Supra), however, subsequently, in Jamboo Bhandari (Supra), the Supreme Court has veered around the view that pre-deposit in appeal u/s 138 of Negotiable Instruments Act is not mandatory and in case prima facie, exceptional circumstances in favour of the appellant/ convict existed and if the order in  impugned order in appeal is perverse, then, the requirement of pre-deposit may be waived by the appellate court. Therefore, after Jamboo Bhandari (Supra) case, the clarity has emerged in this regard and to reiterate that pre-deposit in appeal is the mandate of law, unless, exceptional circumstances warranting its waiver is shown to have existed, in that event, the appellate court can exercise discretion in favour of the waiver of pre-deposit.

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                             Anil K Khaware

Founder & Senior Associate

Societylawandjustice.com

 


 

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SECTION 148 of Negotiable Instruments ACT- waiver of pre-deposit IN APPEAL

  SECTION 148 of Negotiable Instruments ACT- waiver of pre-deposit IN APPEAL The Supreme Court in a matter reported as INSC 1046 ( Crimina...