Analyze the following case and answer the following questions. Indus Airways Pvt Ltd entered into a contract with Magnum Aviation Pvt Ltd to purchase aircraft parts. One clause of the contract was that, the buyer will make advance payment for the purchase. Therefore, the buyer (Indus Airways) gave post-dated cheques as an advance payment for the purchase. However, before the goods could be supplied, the buyer, informed the seller that he was cancelling the contract and requested for return of cheques. Meanwhile, the seller had presented the cheques for encashment which got dishonoured. The seller prosecuted the buyer for the dishonoured cheques. The buyer contented that there was no sale taking place and so there was no payment to be made. So, the provision did not apply. 1.Discuss the liability of Indus Airways Private Limited? 2.Is there any offence under Section 138 of the Negotiable Instruments Act