Home   Civil   Filing a 138 NI Act Case

Filing a 138 NI Act Case

Negotiable instruments are one of the more practical ways to transfer money in the business sector and have been utilized for a long time. The growth of the banking industry and the creation of additional branches have made cheques one of the most used negotiating tools. There was always a chance that cheques issued as Negotiable Instruments would be issued with insufficient funds in the account. It was felt that he committed a serious offense when he dishonored the cheque in order to safeguard the cheque's drawee. The Banking Public Financial Institutions and Negotiable Instruments Clause (Amendment) Act of 1988 added Sections 138 to 142 for that reason.

Filing-a-138-NI-Act-Case

This was accomplished by holding the drawer accountable for fines in the event that the cheque bounced owing to a lack of cash, with sufficient safeguards in place to prevent harassing an honorable drawer.

The earlier of three months or the remaining validity time for the cheque must be presented. 3. If the cheque exceeds the agreed-upon amount or there are insufficient funds, it must be returned unpaid. 4. The drawer must be notified via notice of the dishonor within 30 days. 5. The cheque drawer must fail to pay within 15 days of receiving the notice.

call

10 mins free call

Understand how we work
Tell us your matter

10 mins free call

Understand how we work
Tell us your matte
Free Call
call2

20 mins call

Tell us your matter
We will Consult you

20 mins call

Tell us your matter
We will Consult you
Rs 99
chat2

Chat until

Discuss your case
We will consult and guide you

Chat until

Discuss your case
We will consult and guide you
Rs 300