Search results
Section 138 in The Negotiable Instruments Act, 1881. 138. Dishonour of cheque for insufficiency, etc., of funds in the account.—. (b) the payee or the holder in due course of the cheque, as the case may be, makes a demand for the payment of the said amount of money by giving a notice in writing, to the drawer of the cheque, [within thirty ...
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:
The Act has been extended to Goa, Daman and Diu with modifications, by Reg. 12 of 1962, s. 3 and Sch., extended to and brought into force in Dadra and Nagar Haveli by Reg. 6 of 1963, s. 2 and Sch. I (w.e.f. 1-7-1965), to the Union territory of
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 · All the above-mentioned essentials are mandatory to be fulfilled to invoke Section 138. A person culpable under Section 138 of the Act can be made liable for a punishment that may extend up to 2 years of imprisonment or a fine that may extend up to twice the amount of the cheque in dispute, or both.
SCHEDULE. Contains all Enforced Central and State Acts linked with Subordinate Data like Rules,Regulations,Notifications,Orders,Circulars,Ordinances,Statutes.
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.
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;
Overview And S.138 Of Negotiable Instrument Act, 1881. By V.Abhi7267 | Views 19781. This article examines the development of negotiable devices throughout history, emphasizing the crucial role that traveling buyers had in settling difficult circumstances and promoting more stable financial transaction tactics.
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
