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Feb 6, 2023 · It explains the rationale behind Section 138 of the Negotiable Instrument Act, 1881 as to why a civil liability has been given a criminal colour and the punishment that follows the given offence. It has been published by Rachit Garg.
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 · Section 138 of the NI Act is a penal provision that deals with the punishment of dishonour of cheque. Dishonour of cheque is not an offence in itself but to become an offence, the following ingredients should be there:
Nov 1, 2021 · PUNISHMENT UNDER SECTION 138 of the NI Act. Section 138 provides both civil and criminal liability for the dishonour of cheques. Civil Liability: Section 138 provides civil liability by imposing a fine two times dishonoured cheques.
Mar 11, 2023 · When a cheque bounces due to insufficiency of funds in the drawer's amount, it is punishable under Section 138 of the NI Act. However, one of the most important formalities to be followed under the said provision is the legal notice for cheque bounce.
Mar 18, 2024 · Learn about the punishment for violating section 138 of the Negotiable Instruments Act 1881 in this guide. Punishment can include a fine, imprisonment, or both.
Mar 15, 2024 · Section 138 of the Negotiable Instruments Act, 1881, stipulates that the individual responsible for dishonoring a cheque could face: a fine up to twice the cheque's amount, imprisonment for up to two years, or both.
Section 138 of the NI Act. On 07th December 2015, the respondent Bank, through its Branch Manager, filed a complaint under Section 138 of the NI Act before the Court of Judicial Magistrate, Balodabazar, Chhattisgarh, against Simaiya Hariramani and the Explanation.— For the purposes of this section, “debt or other liability” means a legally
Dec 4, 2017 · The Court observed that so far as the offence/proceedings under Section 138 of the NI Act are concerned, the Legislature has provided Section 147 which specifically stipulates that “every offence punishable under this Act shall be compoundable†.
Oct 1, 2022 · In case of criminal liability, Section 138 of the NI Act comes along with the punishment of two consecutive years and the prosecution of the drawer takes place under the provision of the Indian Penal Code,1860 namely Section 417 and Section 420. The offenses acquired are bailable, compoundable, and non-cognizable in nature.
