Corporate Law : The court held that cheque dishonour caused by a statutory account freeze during insolvency does not attract criminal liability. T...
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 : 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 : Tripura High Court acquitted the accused after finding the complainant failed to prove financial capacity and valid statutory noti...
Corporate Law : High Court upheld conviction under Section 138 NI Act, holding that contradictory defence evidence failed to rebut statutory presu...
Corporate Law : The Supreme Court examined whether personal insolvency proceedings under the IBC could halt cheque dishonour cases under Section 1...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Corporate Law : The Karnataka High Court held that a complainant under Section 138 of the Negotiable Instruments Act can pursue an appeal as a vic...
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...
The Modi government in a bit to improve ease of doing business and unclogging courts has decided that 39 sections in 19 different Acts, which have been identified, shall be decriminalised. The government intends to do away with minor financial offences and has sought comments from the stakeholders against this move of decriminalisation as they […]
Bhupendra Suryawanshi Vs Sai Traders (Madhya Pradesh) The proviso to Section 138, however, is all important and stipulates three distinct conditions precedent, which must be satisfied before the dishonour of a cheque can constitute an offence and become punishable. The first condition is that the cheque ought to have been presented to the bank within […]
Supreme Court dismisses PIL seeking exclusion of lockdown period for limitation purposes of bank instruments. Stay up to date with the latest legal developments.
In simple terms, a cheque is defined as a document that orders a bank to pay a specific amount of money from a person’s account to the person in whose name the cheque has been issued. There are other legal definitions as well which are referred frequently to understand the meaning of the term ‘cheque’. […]
It is hereby ordered that all periods of limitation prescribed under the Arbitration and Conciliation Act, 1996 and under section 138 of the Negotiable Instruments Act 1881 shall be extended with effect from 15.03.2020 till further orders to be passed by this Court in the present proceedings.
Through this write up, a statutory and judicial light is focused on the different aspects of procedure and provisions set up in cases related to Dishonour of Cheques as enshrined in Chapter XVII decoding form Section 138 to Section 148 of The Negotiable Instruments Act, 1881. Introduction and objective :- Negotiable Instrument act was enacted […]
Sunita Palta & Ors. Vs. Kit Marketing Pvt. Ltd. (Madras High Court) Non-Executive Directors are, therefore, persons who are not involved in the day-to-day affairs of the running of the company and are not in charge of and not responsible for the conduct of the business of the company.’ Admittedly, the petitioners are neither the […]
Article discusses Union Budget 2017 provisions related to ELECTORAL BOND. It discusses if the same is a legal weapon to curb and mitigate illegitimate funding for political parties.
The prosecution of an accused under Section 138 of the Negotiable Instruments Act, 1888, is not hit by the bar created by sub-section (2) of Section 69 of the Indian Partnership Act, 1932.
D. K. Chandel Vs Wockhardt Ltd. & Anr. (Supreme Court) The Supreme Court has observed that the production of the account books/cash book may not be relevant in a criminal case filed under Section 138 of the Negotiable Instruments Act. As held by the Trial Court as well as by the High Court that the […]
