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A Bill further to amend the Negotiable Instruments Act, 1881 - To remove impracticability as decided in supreme court judgment Dashrath Rupsingh Rathod versus State of Maharashtra and another (Criminal Appeal No. 2287 of 2009).

Dated:- 11-6-2015 - EXTRAORDINARY PART II-Section 2 PUBLISHED BY AUTHORITY NEW DELHI, WEDNESDAY, MAY 6, 2015/VAISAKHA 16, 1937 (SAKA) LOK SABHA - The following Bill was introduced in Lok Sabha on 6th May, 2015:- BILL NO. 151 OF 2015 A Bill further to amend the Negotiable Instruments Act, 1881. Short title and commencement BE it enacted by Parliament in the Sixty-sixth Year of the Republic of India as follows:- 1. (1) This Act may be called the Negotiable Instruments (Amendment) Act, 2015. (2) It .....

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he Explanation I, for clause (a), the following clause shall be substituted, namely:- (a) a cheque in the electronic form means a cheque drawn in electronic medium by using any computer resource and signed in a secure system with digital signature (with or without biometrics signature) and asymmetric crypto system or electronic signature, as the case may be; ; (ii) after Explanation II, the following Explanation shall be inserted, namely:- Explanation III.-The expressions used in this section sh .....

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or payment, is situated. . Insertion of new section 142A 4. In the principal Act, after section 142, the following section shall be inserted, namely:- Validation for transfer of pending cases 142A. (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974) or any judgment, decree, order or directions of any court, all cases arising out of section 138 which were pending in any court, whether filed before it, or transferred to it, before the commencement of the Nego .....

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ransferred to that court under sub-section (1), all subsequent complaints arising out of section 138 against the same drawer shall be filed before the same court irrespective of whether those cheques were presented for payment within the territorial jurisdiction of that court. (3) If, on the date of the commencement of the Negotiable Instruments (Amendment) Act, 2015, more than one prosecution filed by the same person against the same drawer of cheques is pending before different courts, upon th .....

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struments Laws (Amendment) Act, 1988 inserted in the Negotiable Instruments Act, 1881 (hereinafter called the said Act), a new Chapter XVII, comprising sections 138 to 142 with effect from 1st April, 1989. Section 138 of the said Act provides for penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. 2. As sections 138 to 142 of the said Act were found deficient in dealing with dishonour of cheques, the Negotiable Instruments (Amendmen .....

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ss transactions and settlement of liabilities could be ensured. 3. The Supreme Court, in its judgment dated 1st August, 2014, in the case of Dashrath Rupsingh Rathod versus State of Maharashtra and another (Criminal Appeal No. 2287 of 2009) , held that the territorial jurisdiction for dishonour of cheques is restricted to the court within whose local jurisdiction the offence was committed, which in the present context is where the cheque is dishonoured by the bank on which it is drawn. The Supre .....

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urt. 4. Pursuant to the judgment of the Supreme Court, representations have been made to the Government by various stakeholders, including industry associations and financial institutions, expressing concerns about the wide impact this judgment would have on the business interests as it will offer undue protection to defaulters at the expense of the aggrieved complainant; will give a complete go-by to the practice /concept of 'Payable at Par cheques' and would ignore the current realitie .....

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customers spread all over India. 5. To address the difficulties faced by the payee or the lender of the money in filing the case under section 138 of the said Act, because of which, large number of cases are stuck, the jurisdiction for offence under section 138 has been clearly defined. The Negotiable Instruments (Amendment) Bill, 2015 provides for the following, namely:- (i) filing of cases only by a court within whose local jurisdiction the bank branch of the payee, where the payee presents th .....

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