Section 142(2) Of Negotiable Instruments Amendment Act, 2015 Is Constitutionally Valid: Madras HC [Read Judgment]

Reiterating that the Parliament/State Legislature can take away the basis of a judicial pronouncement by enacting legislation, the Madras High Court upheld the constitutional validity of the Section 142(2) of the Negotiable Instruments Amendment Act, 2015. The Petitioner-Company, Refex Energy Ltd. had asserted that the amendment is in violation of the Supreme Court ruling in...