Corporate Law : भारत में विवादित चेक को नियंत्रित करने वाले एनआई �...
Corporate Law : Explore directors' liability under the Negotiable Instruments Act during the moratorium period under the Insolvency and Bankruptcy...
Corporate Law : Explore the mounting backlog of cheque bounce cases in India, the legal procedures involved, the jurisdiction of cases, and how to...
Corporate Law : As per section 143-A of Negotiable Instrument Act, the court trying an offense under section 138 may order the drawer of the chequ...
Company Law : Explore the onus to prove in cheque bounce cases (Section 138 NI Act) through a comprehensive analysis of relevant provisions and ...
Corporate Law : The Modi government in a bit to improve ease of doing business and unclogging courts has decided that 39 sections in 19 differen...
Corporate Law : Lok Sabha passes Negotiable Instrument (Amendment) Bill, 2018 a bill further to amend the Negotiable Instruments Act, 1881 by whic...
Corporate Law : It is, therefore, proposed to introduce the Negotiable Instruments (Amendment) Bill, 2017 to provide, inter alia, for the followin...
Corporate Law : Proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015 The Union Cabinet, chaired by the Prime Minister Shr...
Corporate Law : The main amendment included in this is the stipulation that the offence of rejection/return of cheque u/s 138 of NI Act will be en...
Corporate Law : Bombay High Court grants leave to file an appeal in Jaikiran Prabhaji Nagari Sahakari's case against Santosh Chudaman Patil after ...
Corporate Law : Madhya Pradesh HC ruled IBC proceedings do not exempt signatories from liability under NI Act. Court upheld Rs. 13.73 lakh deposit...
Corporate Law : Regarding Section 14 of the IBC, court clarified that moratorium only applies to corporate debtor, not to natural persons like dir...
Corporate Law : Explore the Supreme Court judgment on whether directors who resigned can be held liable for dishonored negotiable instruments. Und...
Corporate Law : Karnataka High Court revolved around Section 138 of Negotiable Instruments Act 1881 in case of Shashikala Jayaram vs. Appayappa - ...
Corporate Law : Pursuant to directions of Hon'ble Supreme Court of India, following Practice Directions are issued to all Courts dealing with case...
Finance : Central Government hereby declares every Saturday as a public holiday for Life Insurance Corporation of India, with immediate effe...
Corporate Law : This Act may be called the Negotiable Instruments (Amendment) Act, 2018. (2) It shall come into force on such date as the Central ...
Corporate Law : MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 29th December, 2015 The following Act of Parliament received t...
Corporate Law : NOW THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to p...
Where the proceedings under Section 138 of the Act had already commenced and during the pendency, the company gets dissolved, the directors and the other accused cannot escape by citing its dissolution. What is dissolved is only the company, not the personal penal liability of the accused covered under Section 141 of the Negotiable Instruments Act, 1881.
Surinder Singh Deswal Vs Virender Gandhi & Anr. (Supreme Court) Court was considering provisions of Section 143A of the N.I. Act which was inserted by the same Amendment Act 20 of 2018 by which Section 148 of the N.I. Act has been inserted. This Court took the view that Section 143A is prospective in nature […]
The legal heirs, in such a case, are neither liable to pay the fine or to undergo imprisonment. However, they have a right to challenge the conviction of their predecessor only for the purpose that he was not guilty of any offence.
Kishore Sharma Vs Sachin Dubey (Supreme Court of India) The present appeal takes exception to the order dated 15th November, 2018 passed by the High Court of Madhya Pradesh, Indore Bench, thereby it allowed the application filed by the respondent for quashing of proceedings instituted against him under Section 138 of the Negotiable Instruments Act, […]
An Amendment Act was brought by the Government to meet reducing the undue delay in the cases of dishonor of cheques and to provide payment of interim compensation to the complainants. The MSME’s in particular have been representing that due to delay tactics, easy filing of appeals and obtaining stay on proceedings, the very purpose of section 138 of the NI Act was being frustrated.
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 […]
Madan Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Purport of the special law under the Negotiable Instruments Act is to ensure that the promise to pay is abided by the person so promising. The provision under Section 139 of the NI Act is that it shall be presumed that the holder of a cheque […]
G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India) In terms of the explanation to Section 141, the expression ‘company’ has been defined to mean any body corporate and to include a firm or other association of Sub-section (1) of Section 141 postulates that where an offence is committed under Section […]
If the provisions are substantive in nature then the same cannot be applied Retrospectively to the pending cases. However, if the provisions are procedural in nature then the same has to be applied to all the cases, including the one pending before the Court.
SC held that once the court has drawn presumption of existence of legally enforceable debt as per Section 139 of the NI Act, factors like source of funds are not relevant if the accused has not been able to rebut the presumption.
