NI Act: No mandatory requirement of notice to directors of Company

Negotiable Instruments Act. No mandatory requirement of notice to directors of Company. A. Relevant Sections: 1. Section 138 of the Act, 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 other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it ex...