ಚೆಕ್ ಬೌನ್ಸ್: ಹೊಸ ಕಠಿಣ ಕಾನೂನು! || Cheque Bounce: Strict Action Implemented!
Автор: UdayaSingh Legal Entity
Загружено: 2025-06-10
Просмотров: 17258
Описание:
Section 138 of the Negotiable Instruments Act, 1881, addresses the dishonor of a cheque for insufficient funds or exceeding the agreed amount with the bank. It defines the offense and outlines the penalties for issuing a cheque that is dishonored due to insufficient funds or for exceeding the arranged amount.
Key Points of Section 138:
Offense:
Dishonor of a cheque issued to discharge a debt or liability, when the cheque is returned unpaid due to insufficient funds or exceeding the agreed amount with the bank.
Penalties:
Imprisonment (up to two years), a fine (up to twice the cheque amount), or both.
Conditions for Applicability:
Cheque must be presented within six months from the date it's drawn or within its validity period, whichever is earlier.
The payee or holder in due course must demand payment in writing to the drawer within 30 days of receiving notice of the dishonor.
The drawer must fail to make payment within 15 days of receiving the notice.
Notice:
A written notice demanding payment must be served to the drawer within 30 days of the cheque's dishonor.
In essence, Section 138 aims to ensure that parties honor their financial obligations and prevent the misuse of cheques for debt repayment.
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