Corporate Law : upreme Court held that a trust is not a separate legal entity under the Indian Trusts Act, 1882, and only its trustees can be held...
Corporate Law : The Supreme Court of India ruled that presenting a cheque for its full amount after a partial payment was made does not constitute...
Corporate Law : The Supreme Court in Vishnoo Mittal v. M/s Shakti Trading Company quashed proceedings against a director under Section 138 of the ...
Corporate Law : SC rules that directors cannot face Section 138 NI Act cases if the cause of action arises after insolvency proceedings begin unde...
Corporate Law : Understanding territorial jurisdiction under Section 138 of the NI Act. Key rulings and amendments explain where cheque bounce cas...
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 : The Court held that repeated dishonour of cheque and non-payment after notice established a prima facie case. It refused to quash ...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Corporate Law : Supreme Court held that negligence on part of bank in presentation of cheque within the validity period of cheque leads to ‘defi...
Corporate Law : The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption r...
Corporate Law : The court analysed whether the reason account blocked falls within the scope of Section 138 of the Negotiable Instruments Act. It ...
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...
Supreme Court states that as per section 142(2)(a) of the Negotiable Instrument Act, the court within whose jurisdiction the branch of the bank where the payee maintains the account is situated, will have jurisdiction to try the offence, if the cheque is delivered for collection through an account.
Alibaba Nabibasha Vs Small farmers agri-busines Consortium & ORS (Delhi High Court) The Petitioner ceased to be the director of the respondent No. 2 with effect from 27th October 2010. The resignation of the petitioner was also notified to MCA. The cheques, totaling to INR 45 Lakhs, were issued on 31st December 2018 by respondent […]
Ravi Dixit Vs State of U.P. and Another (Allahabad High Court) Learned counsel for the petitioner has submitted that the summoning order is without compliance of provisions of Section 138 of the Act, 1881; the application has been falsely implicated due to enmity and financial dispute with the complainant and that cheques were dishonoured as […]
Bouncing of Cheque Considered as Offence Under NI Act which leads to Imprisonment upto 2 Years alongwith compensation amount of cheque alongwith interest @9%
The issue under consideration is whether prosecution u/s 138 of Negotiable Instrument Act can be levied for dishonour of a cheque on cheque having difference in the amount in figures and words?
Patiala House Courts : New Delhi has held that an instrument cannot be termed as a ‘Cheque’ if it does not specify a certain amount of money to be paid to a certain person. Thus, if the amount written on the instrument is ‘absurd’, the same cannot be called a ‘cheque’ and will not draw any legal consequences under the Negotiable Instruments Act. The observation was made by Additional Judge Praveen Singh of the Patiala House Court while hearing the revision petition of an accused in proceedings under section 138 of Negotiable Instruments Act.
In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque be extended, we find that the said period has not been prescribed by any Statute but it is a period prescribed by the Reserve Bank of India under Section 35A of the Banking […]
The statement released by Ministry of Finance on 8th June, 2020 has proposed to decriminalize a number of economic offences and one of such offences is the offence under Sec 138 of Negotiable Instruments Act, 1881 for dishonor of cheque. The Ministry has invited comments of stakeholders latest by June 23, 2020 on the decriminalization […]
Rupali and Bhavi* A significant step has been taken by the Government of India with an objective of achieving ‘Sabka saath, Sabka Vikas and Sabka Vishwas’ and proposed decriminalization of several economic offences including the offence of dishonour of cheque under Section 138 of the Negotiable Instruments Act, 1881. This section ensures that obligations undertaken […]
In the day to day life, many of us might have acquainted with the issue of dishonor of cheque or cheque bounce, due to the insufficiency of funds or signature mismatch or overwriting or any other reasons. This article is a hand to know the provisions of the Negotiable Instrument Act 1881 dealing with the […]
