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Section 138 in The Negotiable Instruments Act, 1881. 138. 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 ...
Jun 21, 2021 · Introduction. Section 138 of Negotiable Instruments Act. The time frame for the offence under Section 138 of the NI Act. Few important points relating to dishonour of the cheque. Status of premature complaint. Successive presentation of cheques. Who can file a complaint? Death of the complainant. Insufficiency of funds. Time barred debt.
[148. Power of Appellate Court to order payment pending appeal against conviction.—(1) Notwithstanding anything contained in 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 ...
Jun 6, 2019 · Section 138 of the Act provides for circumstances under which a case for dishonour of cheques is filed. 1 The ingredients required for complying with Section 138 are as follows: a person must have drawn a cheque for payment of money to another for the discharge of any debt or other liability;
Aug 23, 2020 · Section 138 of the Act formulates a statutory wrong concerning the matter of disgrace oriented cheques based on the grounds of insufficiency of available funds in the account of the person that has been maintained with the concerning banks.
May 29, 2018 · Section 138 of the Negotiable Instruments Act, 1881 provides for circumstances under which a case for dishonour of cheques is filed. It states that a cheque has to be presented to the bank within 6 months from the date on which it was drawn or within a period of its validity whichever is earlier.
The Negotiable Instruments Act, 1881. Long Title: An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques. Ministry: Ministry of Finance. Department: Department of Financial Services. Enforcement Date: 01-03-1882.
The development of negotiable instruments, a synopsis of the Negotiable Instruments Act of 1881, and a thorough analysis of Section 138 are the main topics of this article. This section is very important since it discusses the issues that arise when checks are returned for insufficient money.
Oct 1, 2022 · Definition. NI Act 1881, regulates different types of Negotiable Instruments like Promissory Notes, Bills of Exchange, and Cheques. According to Section 13 (1) of the Act, a Negotiable Instrument is defined as “a Promissory Note, Bills of Exchange or Cheque payable either to order or to bearer”.
cases filed under Section 138 of the Negotiable Instruments. Act, 1881 (hereinafter 'the Act') pending at various levels, a. Division Bench of this Court consisting of two of us (the Chief. Justice of India and L. Nageswara Rao, J.) decided to examine. the reasons for the delay in disposal of these cases. The.
