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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 Instrumen .....

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this would be in the interests of the complainant and would also ensure a fair trial. The clarity on jurisdictional issue for trying the cases of cheque bouncing would increase the credibility of the cheque as a financial instrument. This would help .....

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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 .....

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normal business transactions and settlement of liabilities could be ensured. Various financial institutions and industry associations have expressed difficulties, arising out of the recent legal interpretation of the place of jurisdiction for filing .....

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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 .....

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a court within whose local jurisdiction the bank branch of the payee, where the payee delivers the cheque for payment is situated. Further, where a complaint has been filed against the drawer of a cheque in the court having jurisdiction under the new .....

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ourt. Further, it has been provided that if more than one prosecution is filed against the same drawer of cheques before different courts, upon the said fact having been brought to the notice of the court, the court shall transfer the case to the cou .....

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