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Approval for proposal to promulgate the Negotiable Instruments (Amendment) Ordinance 2015 to resolve mainly Jurisdiction related issues for filing cases.

Dated:- 11-6-2015 - The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015. The proposed amendments to the Negotiable Instruments Act, 1881 ( The NI Act ) are focused on clarifying the jurisdiction related issues for filing cases for offence committed under section 138 of the NI Act. The clarification of jurisdictional issues may be desirable from the equity point of view as .....

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NI Act deals with the offence pertaining to dishonour of cheque for insufficiency, etc., of funds in the drawer s account on which the cheque is drawn for the discharge of any legally enforceable debt or other liability. The section 138 of the NI Act provides for penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. The object of the NI Act is to encourage the usage of cheque and enhancing the credibility of the instrument so that the .....

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stuck, the jurisdiction for offence under section 138 has been proposed to be clearly defined. Accordingly, the Negotiable Instruments (Amendment) Bill, 2015 ( the Bill ) in Parliament was introduced in Lok Sabha on 6th May, 2015 and considered and passed by Lok Sabha on 13th May, 2015. However, since the Rajya Sabha was adjourned sine die on 13th May, 2015, the Bill could not be discussed and passed by that House and the Bill could not be enacted. The Bill provides for filing of cases only by .....

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