Category Archives: Negotiable Instruments Act

The Negotiable Instruments (Amendment) Bill, 2015 notified: Govt.

The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent of the President on the 26th December, 2015 and has been … Continue reading

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Amendment in Negotiable Instrument Act: Govt

The President of India has promulgated the Negotiable Instruments (Amendment) Ordinance, 2015 (No.6 of 2015) on 15th June, 2015. The Ordinance provides for determination of territorial jurisdiction of courts for trying cases relating to offence of dishonour of cheques under … Continue reading

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NI complaint to be filed after 15 days from date of receipt of notice: SC

In an important decision, the Supreme Court of India clarified that no complaint can be filed against the drawer of a cheque unless the period of 15 days has elapsed from the date of receipt of the notice of payment … Continue reading

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Cheque not an existing debt or liability for advance payments: SC

In an important ruling, the Supreme Court of India held that if a cheque is issued as an advance payment for purchase of the goods and for any reason purchase order is not carried to its logical conclusion, the cheque … Continue reading

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One month period u/s 142 NI Act be reckoned by excluding date of cause of action: SC

In an important ruling, a large Bench of the Supreme Court of India clarified that while calculating the period of one month which is prescribed under Section 142(b) of the Negotiable Instruments Act (“N.I. Act”), the period has to be … Continue reading

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Prosecution u/S 138 Negotiable Instruments Act on second or successive default in payment of the cheque amount permissible: SC

In an important judgement, a large Bench of Supreme Court of India ruled that a prosecution u/S 138 Negotiable Instruments Act on a second or successive default in payment of the cheque amount should not be impermissible simply because no … Continue reading

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Arraignment of a Company imperative under Negotiable Instruments Act: SC

The Supreme Court of India clarified that for maintaining the prosecution under Section 141 of the Negotiable Instruments Act, arraigning of a Company as an accused is imperative. The Court also said the other categories of offenders like director or … Continue reading

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