Modern era[ edit ] We prefer to carry a small piece of paper known as Cheque rather than carrying the currency worth the value of the Cheque. Before there being no provision to restrain the person issuing the Cheque without having sufficient funds in his account. Of course on Dishonoured cheque there is a civil liability accrued. In order to ensure promptitude and remedy against the defaulters of the Negotiable Instrument a criminal remedy of penalty was inserted in Negotiable Instruments Act, by amending it with Negotiable Instruments Act,
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We try our best to keep our app updated. If you still find any ambiguity in the information provided in this app, first write to us to get it corrected or consult relevant Bare Act or competent Legal advisor.Oct 09, · "The proposed amendments to the Negotiable Instruments Act, ("The NI Act") are focused on clarifying the jurisdiction related issues for filing cases for offence committed under section of the NI Act.
The clarification of jurisdictional issues may be desirable from the equity point of view as this would be in the interests of the. The Supreme Court has pronounced a point of law that the offence under Section of Negotiable Instruments Act is person specific.
It was also clarified that the general concept under Cr.P.C. 18 [ Dishonour of cheque for insufficiency, etc., of funds in the account. —Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or.
This article on “ Dishonour of Cheque – Section of the Negotiable instruments Act ” gives a comprehensive overview about all aspects of cheque bouncing and Cheque Dishonour as per laws in .
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