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...the context of the present case. It may be recalled that Chapter XVII comprising Sections 138 to 142 was inserted into the Act by the Banking, Public Financial Institutions and Negotiable...the 2002 amendment which is self-explanatory:“Prefatory Note—Statement of Objects and Reasons.—The Negotiable Instruments Act, 1881 was amended by the Banking, ...relating to the compounding of offences under the Negotiable Instruments Act, 1881. Even before the insertion of Section 147 in the Act (by way of an amendment in 2002) some High Courts had permitted the...
...public funds which are blocked in cases pending under Section 138 of the Negotiable Instruments Act, 1881. The petitioners submit that, in spite of the fact, that Chapter XIV has been introduced in the ...by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002, which was brought into force w.e.f 6-2-2003. The Objects and Reasons for the said Amendment Act ...to the delay in disposing of the cases relating to the Negotiable Instruments Act. The petitioner banks being custodians of public funds find it difficult to expeditiously recover huge amount of...
...was introduced in the Act by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 (Act 66...Negotiable Instruments Act, 1881 (hereinafter referred to as “the Act”) to a case in which a person issuing a post-dated cheque stops its payment by issuing instructions to the drawee bank before the due date...banking operations and giving credibility to negotiable instruments in business transactions and in order to promote efficacy of banking operations. With the policy of liberalisation adopted by the...
...brought into the statute-book with effect from 1-4-1989 by Section 4 of the Banking Public Financial Institutions and Negotiable Instruments Laws (Amendment) ...to make the payment. The appellant then filed a complaint against the respondent on 30-6-1991 under Section 138 of the Negotiable Instruments Act, 1881 (“Act” for short). On that complaint, cognizance...can initiate prosecution for an offence under Section 138 of the Act for its dishonour for the second time, if he had not initiated such prosecution on the earlier cause of action. The above question...
..., Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 with the object of promoting and inculcating faith in the efficac...Court, pertaining to the question of service of notice in terms of Clause (b) of proviso to Section 138 of the Negotiable Instruments Act, 1881 (in short “the Act”). Observing that while rendering the...credibility to negotiable instruments in business transaction. The introduction of the said Chapter was intended to create an atmosphere of faith and reliance on banking system by discouraging people...
...to defraud the creditors. Dishonor of cheque causes incalculable loss, injury and inconvenience to the Vide the Banking, Public Financial Institutions and Negotiable Instruments ...facts of the present case are that on a private complaint initiated by the Respondent No. 2, proceedings under Section 138 of the Negotiable Instruments Act, 1881 were initiated against the Appellants...Instruments Private Limited v. Kanchan Mehta (2018) 1 SCC 560, this court held that the nature of offence under sec...
...to examine the relevant legal provisions and to ascertain the objects and reasons for which those provisions were brought into existence by making amendments in the Negotiable Instruments Act, 1881. The ...Reasons appended to the Bill stated as follows:“The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions ...) Whether the provisions of Section 145 of the Act, as amended by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 (for short ‘the amending Act of 2002’) are applicabl...
...cheque tarried, thus defeating the very purpose of recognising a negotiable instrument as a speedy vehicle of commerce. It was in that context that Chapter VII was inserted in the Negotiable Instruments Act by the ...under Section 138 of the Negotiable Instruments Act.4. In the complaint, BSNL alleged that the cheques were issued to it by the Data Access (India) Limited in discharge of a...account and failing to pay the cheque amount on the service of the notice, all the accused committed an offence as contemplated in Section 138 of the Negotiable Instruments Act and they were liable to be...
...of the learned Brother Thakur, J. However, I propose to highlight a specific aspect relating to dishonour of cheques which constitutes an offence under Section 138 as introduced by the Banking, Public Financial ...legislature while incorporating the provisions of Chapter XVII, Sections 138 to 142 inserted in the NI Act [by the Banking, Public Financial Institutions and Negotiable ...batches of cases referred to above.8. Chapter XVII comprising Sections 138 to 142 of the Negotiable Instruments Act was introduced in the statute by Act 66 of 1988. The object...
...).”9. Section 138 and Section 141 were brought in the NI Act by the Banking, Public Financial Institutions and Negotiable ...:“(a) Whether for purposes of Section 141 of the Negotiable Instruments Act, 1881, it is sufficient if the substance of the allegation read as a whole fulfil the...Instruments Act, 1881 (for short “the NI Act”) against him have been dismissed.2. The brief facts are these: the complainants were interested in business relationship with Rifa...
...with a fine of rupees one lakh and twenty thousand imposed on the appellant for commission of an offence under Section 138 of the Banking, Public Financial Institutions and Negotiable ...would not constitute an offence.10. However, the Negotiable Instruments Act incorporates two presumptions in this regard: one containing in Section 118 of the Act and other...in Section 139 thereof:10.1 Section 118(a) of the Act reads as under:“118. Presumption as to negotiable instruments.—Until the contrary is...
...are liable to be punished under Section 138 of the Negotiable Instruments Act as amended by the Banking Public ...66/1988) (for short ‘the Act’).2. The case of the complainant as alleged in his complaint was that...the said cheque was duly presented, it was returned by the Bank with endorsement “account closed”. Therefore, the accused have committed an offence under Section 138 of the Act.3. After...
...Instruments Act, 1881 as amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, ...Negotiable Instruments Act, 1881 was enacted and came into force in December, 1881. It deals with negotiable ...in the said Schedule along with the extent of repeal. At serial No. 66, the Banking, Public Financial Institutions and ...
...be compounded without prior permission. I would like to reproduce some part of the Statement of Objects and Reasons of the Negotiable Instruments (Amendment & Miscellaneous Provisions) ...to review Section 138 of the Negotiable Instruments Act, 1881 and make recommendations as to what changes were needed to effective..., Vadodara for offence punishable under Section 138 of Negotiable Instruments Act (hereinafter referred to as 'the N. I. Act...
...Procedure seeks quashing of the criminal complaint bearing No. 39/2A dated 27th February, 1990, under Section 138 of the Banking, Public Financial Institutions and ...criteria. In section 142(a) of the Negotiable Instruments Act, 1881, qualification or eligibility of a complainant to file...section 138 of the Negotiable Instruments Act are quashed. The learned Magistrate will now hear the parties on the question of framing of th...
...the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 wherein new Chapter XVII was incorporated for penaltie...(2010) 4 Mah LJ 1, (2010) 4 AIR Bom R 309 whereby the Division Bench held that the complaint under Section 138 of the ...appellants after taking us through the relevant provisions of the Negotiable Instruments Act, 1881; the Code of Criminal Procedure, 1973 (in short “the Code”) and the order of the learned Single Judge...
...Section 141, read with Section 138, of the Negotiable Instruments Act, 1881, as amended by the Banking, ...section 138 which has been inserted in the Negotiable Instruments Act, 1881, by the Banking, Public Financial Institutions and Negotiable ...provides for. taking cognizance of such offences.
10. Section 4 of the Banking, Public Financial Institutions ...
...139 were repealed and thereby Chapter XVII was abolished w.e.f 14-2-1956. However, Chapter XVII has been reintroduced in the Act by Section 4 of the Banking, Public Financial Institutions ...aforesaid amending Act on the statute appears to be to inculcate faith in the efficacy of banking operations and credibility in transacting business of negotiable instruments. Despite civil remedy...against the appellant for the offence under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as “the Act”).3. Surendra Madhavrao Nighojkar, Respondent...
...section 138 of the Negotiable Instruments Act, as amended by the Banking, ...section 138 of the Negotiable Instruments Act is that the cheque is returned unpaid because the amount available in that account is insuffic...served the requisite notice and the petitioner having failed to make the payment within the prescribed time, the respondent filed a complaint under...
...Negotiable Instruments Act as amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) ...are no prima facie materials to show that the accused petitioners have committed an offence punishable u/S. 138 of the Negotiable Instruments Act 1881 as amended by the Banking, ...liability u/S. 138 of the Negotiable Instruments Act, started making wild, frivolous and contradictory statements in their letters and raised some false and flimsy groun...