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(a) the cheque has been presented to the bank within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier;
Jun 21, 2021 · 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. What is quasi-criminal?
An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques. Preamble. —Whereas it is expedient to define and amend the law relating to promissory notes, bills
Mar 11, 2023 · Section 138 of Negotiable Instruments Act, 1881 [‘NI Act'] provides for criminal provision regarding a cheque bounced due to insufficiency of funds. When a cheque bounces due to insufficiency of funds in the drawer's amount, it is punishable under Section 138 of the NI Act.
Feb 6, 2023 · Punishment under Section 138 NI Act . Punishment under Section 138 has been provided for imprisonment up to a term of 2 years or a fine, which may extend up to twice the amount of the fine or both.
Section 138. Dishonour of cheque for insufficiency, etc., of funds in the account.
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;
Nov 1, 2021 · Section 138 of the NI Act protects the payee from the illegal part of the drawer. It criminalises the dishonour of cheques in cases such as the amount of cheque is more than the fund in the account or exceeds the amount agreed with the bank.
Dec 4, 2017 · Section 138 of the NI Act: Balancing the Civil & Criminal Intents. By Sachin Gupta, Partner and Karan Kanwal, Senior Associate. The object of introducing Section 138 in the Negotiable Instruments Act, 1881 (hereinafter referred to as “ NI Act †) is to enhance the acceptability of cheques in the settlement of liabilities.
Jun 24, 2020 · In this case, Two-Judge Bench of Supreme Court made some key observations regarding dishonor of cheque cases and also issued directions for speedy disposal of cheque cases under Section 138 of NI Act.
