NI Act: Section 143A is prospective in nature: SC

Advertisement G.J. Raja Vs Tejraj Surana (Supreme Court in India) The provisions contained in Section 143A have two dimensions. First, the Section creates a liability in that an accused can be ordered to pay over upto 20% of the cheque amount to the complainant. Such an order can be passed while the complaint is not yet adjudicated upon and the guilt of the accused has not yet been determined. Secondly, it makes available the machinery for recovery, as if the interim compensation were arrears of land Thus, it not only creates a new disability or an obligation but also exposes the accused to...