labels: banks & institutions
Bouncing of cheques still a serious offence news
Our Banking Bureau
16 April 2002

New Delhi: The legislative department of the ministry of law, justice and company affairs has addressed the Bar Council of India, requesting it to disseminate the correct position in the legal fraternity and others concerned that bouncing of cheques continues to be a serious offence.

Under sections 138 to 142 of the Negotiable Instruments Act, 1881, it is a serious offence. This request follows the refusal of the courts to entertain new complaints of bouncing of cheques after the repeal of the Banking, Public Financial Institution and Negotiable Instruments Law (Amendment) Act, 1988, by the Repealing and Amending Act, 2001.


 


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Bouncing of cheques still a serious offence