138 ni act

Clause a of the proviso to Section provides that where the complainant is a public servant, it will not be necessary to examine the complainant and his witnesses. That can be the place where the Bank to which the cheque was issued is located. Thus, the answer to the question raised is: Disclosure of the name of the person drawing the cheque is one of the factual allegations which a complaint is required 138 ni act contain.

This amendment Act inserts five new sections from to touching various limbs of the parent Act and Cheque truncation through digitally were also included and the amendment Act has been recently brought into force on Feb. Therefore, it would be premature at the stage of issuance of process, to move the High Court for quashing of the proceeding under Section of the Code of Criminal Procedure.

A N A R & Co

In such a complaint, the de jure complainant, namely, the company or corporation will remain the same but the de facto complainant employee representing such de jure complainant can change, from time to time. Through this judgment, SC provides relief to the holders of bounced cheques under the provisions of the Negotiable Instruments Act What is a Negotiable Instrument?

Bhaskaran case was given in Harman Electronics Pvt. Due to failure on the part of the drawer a complaint was filed in Delhi. C applies to cases under Section of the Negotiable Instruments Act.

Due sympathy was thus shown or given to the drawer. The transfer should be unrestricted and in good faith. And if the de facto complainant is a public servant, the benefit of exemption under clause a of the proviso to Section of the Code will be available, even though the complaint is made in the name of a company or corporation.

B for insufficiency of funds. The accused challenged the territorial jurisdiction of the court of try the case. Section of CrPC provides that "Every offence shall ordinarily be inquired into and tried by a Court within whose local jurisdiction it was committed".

A negotiable instrument is one, therefore, which when transferred by delivery or by endorsement and delivery, passes to the transferee a good title to payment according to its tenor and irrespective of the title of the transferor, provided he is bona fide holder for value without notice of any defect attaching to the instrument or in the title of the transferor; in other words, the principle nemo dat quod non habit does not apply, It is the element of negotiability that make a contract founded upon paper thus adopted for circulation different in many particulars from other contracts known to law.

Legal Notice Under Section 138 Returned Unclaimed

Therefore as per Section also the place where the cheque was given or handed over will have jurisdiction and the courts of that place will have jurisdiction to try the offence. This law comes with a promise to solve and aid in not only the speedy disposal of the pending cases pertaining to complaints underbut also to bring a sanctity to the system by seeking to clamp down on defaults in payments.

Explanation II - For the purposes of this section, the expression clearing house means the clearing house managed by the Reserve Bank of India or a clearing house recognised as such by the Reserve Bank of India.

138 NI Act

SC [Read Judgment] By: And further a non-payment on its maturity takes away its marketable nature and does not require a stamp duty. At the same, the insolvency process is an independent process with different objective and can be initiated at any given point of time.

Some Examples of Negotiable instruments are Promissory notes, Cheques, Bills of Exchange, bearer bonds, bank notes etc. In our considered view, where undoubtedly each of the components constitute a stage in the commission of the of- fence, the final non-payment being the ultimate one, S.

Various High courts and the Supreme Court have explained this many a time. E-CHEQUE Electronic cheque e-cheque is the image of a normal paper cheque generated, written and signed in a secure system using digital signature and asymmetric crypto system.

In that case, the drawer without prejudice to the other provisions of the said Act, shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to twice the amount of the cheque, or with both. Subbarama Naidu and Anr.

Whether the limitation act applies on I & B code

Some of these grounds are: It can also be the place where the cheque was issued or delivered. The Harman case has adopted a strict approach towards territorial jurisdictions of court. Since the Criminal courts are approached, the issue needs to be examined from the point of view of the Criminal Procedure Code, To attract the provisions of section NI Act, the cheque should be presented with the bank on which it I drawn- If the cheque is not presented to the bank on which it is drawn, then provisions of sec would not be attracted.

138 ni act

Hence, Delhi Court will not have jurisdiction to try the case. That the facts, events, characters narrated and depicted in this work are fictitious.prosecuted under section of the Negotiable Instrument Act, as amended up to date under which you are liable to be punished with imprisonment which may extend to two5/5(24).

dfaduke.comch on whether section of NI Act can be initiated in case of bounce of “Security Cheque”.

Landmark Supreme Court Judgment on Sec 138 of Negotiable Instruments Act

dfaduke.comch on whether” Schedule of Insurance Contract” is binding on parties dfaduke.comch on whether an insurance claim can be repudiated if the subject is not in the “Location Insured”. Supreme Court Changes ground rule under Section of Negotiable Instruments Act to prosecute a person who had presented the cheque which bounced for insufficiency of funds.

that even under Section of NI Act, the offence under Section of Negotiable Instruments Act can be compounded at any stage, however, the Hon'ble Supreme Court.

Oct 09,  · "The proposed amendments to the Negotiable Instruments Act, ("The NI Act") are focused on clarifying the jurisdiction related issues for filing cases for offence committed under section of the NI Act. The clarification of jurisdictional issues may be desirable from the equity point of view as this would be in the interests of the.

Dec 10,  · Old provisions as per Negotiable Instrument Act, Vs amended provisions by Negotiable Instrument Amendment Act, Old Provision as per NI Act, Post Amendment i.e. as per NI Amendment Act, w.e.f. 15th June, ‘6.

138 ni act
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