WelCome. WELCOME. PROSECUTION UNDER THE NEGOTIABEL INSURUMENT ACT-1881 U/S 138 TO 142. ALLIED SECTIONS. “ CHEQUE ”.
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THE NEGOTIABEL INSURUMENT ACT-1881
A “cheque” is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form.
140. It shall not be a defence in a prosecution for an offence under section 138 that the drawer had no reason to believe when he issued the cheque that the cheque may be dishonoured on presentment for the reasons stated in that section.
1.Don't sign or issue blank cheques.
2. Without funds in A/C.
3.keep the cheque book in safe place.
4.Don't present the cheque after notice of dishonour.
GOPINATH TRIMBAKE TIDKE Advocate
THANK YOU VERY MUCH where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.