Govt nods to amend Negotiable Instruments Act, 1881
Posted on: 2015-06-11 Posted by: CLAT Gurukul Category: Archive Blog
The union cabinet on 10th June decided to promulgate an ordinance to amend the Negotiable Instruments Act to provide for filing of cases about dud cheques at places where these are presented. It said that the proposed amendments to the Negotiable Instruments Act, 1881 ("The NI Act") were focused on clarifying the jurisdiction related issues for filing cases for offence committed under section 138 of the Act. About Section 138 of the NI Act: Section 138 of the NI Act deals with the offences related to dishonour of cheque for insufficiency of funds in the drawer's account. The Negotiable Instruments (Amendment) Bill, 2015 was passed in the Lok Sabha last month but could not be taken up in the Rajya Sabha. Source: The Hindustan Times
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