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Search Results Judgments > Act:Negotiable Instruments Act

Jan 03 2006

City Palace Electronics and Ors. Vs. State and Anr.

  • Decided on : 03-Jan-2006

Court : Delhi

Reported in : 126(2006)DLT324; 2006(86)DRJ741

... Negotiable Instruments Act stood defeated due to prolongation of the trials on one or another pretext and the matters were being dragged on for months and years on flimsy grounds. I may reproduce hereunder some portions of the Preamble in the amended Negotiable Instruments Act:Amendment Act 55 of 2002 Statement of Objects and Reasons The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments ... Negotiable Instruments Act:Amendment Act 55 of 2002 Statement of Objects and Reasons The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, ... Negotiable Instruments Act is to legalize the system of which instruments contemplated by it could pass from hand to hand by negotiation like any other goods. The purpose of the Act was to present an orderly and authoritative statement of the leading rules of law relating to the negotiable instruments. To achieve the objective of the Act, the Legislature thought it proper to make provisions in the Act ... Act.2...3...4...5. The proposed amendments in the Act are aimed at early disposal of cases relating to dishonour of cheques, enhancing punishment for offenders, introducing electronic image of a truncated cheque and a cheque in the electronic form as well as exempting an official nominee director from prosecution under the Negotiable Instruments Act, 1881.Under Section 138 of the Negotiable Instruments Act ...

Jan 11 2010

Mandvi Co-op. Bank Ltd. Vs. Nimesh B. Thakore

  • Decided on : 11-Jan-2010

Court : Supreme Court of India

Reported in : 2010(1)BomCR614; JT2010(1)SC259; 2010(I)OLR(SC)306; 2010(1)SCALE188; (2010)3SCC83; [2010]98SCL139(SC); 2010(1)LC454(SC)

... were brought into existence by making amendments in the Negotiable Instruments Act, 1881. The Negotiable Instruments Act was amended first by the Banking Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 and a second time by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002. The first amendment inserted Chapter XVII in the Act, comprising Sections 138 to 143. Section 138 made, ... punishable under the Act, compoundable.17. It is not difficult to see that Sections 142 to 147 lay down a kind of a special code for the trial of offences under Chapter XVII of the Negotiable Instruments Act and Sections 143 to 147 were inserted in the Act by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 to ... the Act.2. A large number of cases are reported to be pending under Sections 138 to 142 of the Negotiable Instruments Act in various courts in the country. Keeping in view the large number of complaints under the said Act pending in various courts, a Working Group was constituted to review Section 138 of the Negotiable Instruments Act, ... evidence of certain facts and Section 147 made the offences under the Act compoundable.14. The statement of objects and reasons appended to the bill stated as follows:The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 wherein a new Chapter XVII was incorporated for penalties in ...

Jul 13 2004

Sita Ram Singhania Vs. State of Gujarat

  • Decided on : 13-Jul-2004

Court : Gujarat

Reported in : (2005)2GLR1298

... totally of different nature. For the sake of convenience, it would be appropriate to reproduce the provisions of Section 30 of the NI Act and Section 42 of the Indian Contract Act, which are as under :'Section 30 of the Negotiable Instruments Act : Liability of drawer :- The drawer of a bill of exchange or cheque is bound in case of dishonour by the drawee ... Act, which are as under :'Section 30 of the Negotiable Instruments Act : Liability of drawer :- The drawer of a bill of exchange or cheque is bound in case of dishonour by the drawee or acceptor thereof, to compensate the holder, provided due notice of dishonour has been given, to or received by, the drawer as hereinafter provided.''Section 42 of the Contract Act :- ... ., Vadodara (hereinafter referred to as 'the GSFC') is the orig.complainant of the aforesaid criminal cases instituted for the offence punishable under Section 138 of the Negotiable Instruments Act, 1938 (hereinafter referred to as 'the NI Act'). A criminal complaint came to be filed against four accused persons. However, as the accused no.3 could not be served by the orig. complainant, ... that reading of Section 442 of the Companies Act makes one thing clear that the term 'proceedings' in both these provisions embraces within it both Civil and Criminal proceedings. This Court while dealing with the case of Saurabh Soparkar (supra) has observed that :'If the provisions of section 141 of the Negotiable Instruments Act, 1881, are considered, then it would be quite ...

Jul 14 2006

Peacock Industries Ltd., Vs. Budhrani Finance Ltd. and State of Mahara ...

  • Decided on : 14-Jul-2006

Court : Mumbai

Reported in : IV(2006)BC302; 2006(5)MhLj162

... Ltd. (supra) has considered the very question whether the provisions of the Negotiable Instruments Act, 1881 as amended by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 are applicable to the complaints under Section 138 of the Act which are pending on the date on which the Amending Act came into force. While dealing with the said question several judgments of ... the Constitutional validity of the provisions of Section 145(1) and 145(2) of the Negotiable Instruments Act. These provisions are inserted by amendment to further the object of the Negotiable Instruments Act. A bare perusal of the provisions of Chapter XVII of the Act show that the provisions relate to separate class of offences. The Legislature in its wisdom has ... image of a truncated cheque and a cheque in the electronic form as well as exempting an official nominee director from prosecution under the Negotiable Instruments Act, 1881.16. Accordingly, the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 was passed by the Parliament and it received the assent of the President on 17.12.2002 by which the amendments to Sections ... Negotiable Instruments Act. A bare perusal of the provisions of Chapter XVII of the Act show that the provisions relate to separate class of offences. The Legislature in its wisdom has thought it fit to treat the procedure relating to this crime in a separate manner, and has, therefore, enacted the provisions of Section 145 by the Amending Act ...

Dec 02 2005

Silkways Travels Pvt. Ltd. and Ors. Vs. State and Anr.

  • Decided on : 02-Dec-2005

Court : Delhi

Reported in : I(2006)BC343(NULL)

... Negotiable Instruments Act. Such approach will defeat the very purpose of the Negotiable Instruments Act. In this regard I may reproduce hereunder the amendment Act 55 of 2002 pertaining to Negotiable Instruments Act, 1881:Amendment Act 55 of 2002 - Statement of Objects and Reasons - The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act ... Act.2 ...3 ...4 ...5. The proposed amendments in the Act are aimed at early disposal of cases relating to dishonour of cheques, enhancing punishment for offenders, introducing electronic image of a truncated cheque and a cheque in the electronic form as well as exempting an official nominee director from prosecution under the Negotiable Instruments Act, 1881.10. Under Section 138 of the Negotiable Instruments Act ... from prosecution under the Negotiable Instruments Act, 1881.10. Under Section 138 of the Negotiable Instruments Act the period of imprisonment has been extended from 1 year to 2 years. Under Section 143(3) of the Act, the trial court has to ... Negotiable Instruments Laws (Amendment) Act, 1988 wherein a new Chapter XVII was incorporated for penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. These provisions were incorporated with a view to encourage the culture of use of cheques and enhancing the credibility of the instrument. The existing provisions in the Negotiable Instruments Act ...

Dec 20 2005

Hora Sales Agencies and Ors. Vs. Quest Components (P) Ltd.

  • Decided on : 20-Dec-2005

Court : Delhi

Reported in : II(2007)BC345; 2006CriLJ1445; 126(2006)DLT514; 2006(86)DRJ417

... this order I may mention that the following amendments were made in the NI Act in the year 2002:Amendment Act 55 of 2002 - Statement of Objects and Reasons - The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 wherein a new Chapter XVII was incorporated for penalties in case of dishonour ... director from prosecution under the Negotiable Instruments Act, 1881.The above provisions leave no doubt that as a result of the amendments, the matters under Section 138 are to be tried summarily (Section 143 of Negotiable Instruments Act and Section 262 to 265 Cr.P.C.) and in sub-section 3 of Section 143 of the Act, there is yet another ... Negotiable Instruments Laws (Amendment) Act, 1988 wherein a new Chapter XVII was incorporated for penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. These provisions were incorporated with a view to encourage the culture of use of cheques and enhancing the credibility of the instrument. The existing provisions in the Negotiable Instruments Act ... and after seeing the judicial file and the bank documents he was satisfied that all the ingredients of section 138 of Negotiable Instruments act existed and thereforee he summoned the accused persons under Section 138 of the Negotiable Instruments Act. I have also perused the notice under Section 251 Cr.P.C. given to the accused Smt. Inderjeet Hora, Proprietor ...

May 03 2010

Damodar S. Prabhu Vs. Sayed Babalal H.

  • Decided on : 03-May-2010

Court : Supreme Court of India

... Negotiable Instruments Act, 1881 was amended by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 which inserted a specific provision, i.e. Section 147 `to make the offences under the Act compoundable'. We can refer to the following extract from the Statement of Objects and Reasons attached to the 2002 amendment which is self- explanatory:Prefatory Note - Statement of Objects and Reasons. - The Negotiable Instruments Act ... Act, 2002 which inserted a specific provision, i.e. Section 147 `to make the offences under the Act compoundable'. We can refer to the following extract from the Statement of Objects and Reasons attached to the 2002 amendment which is self- explanatory:Prefatory Note - Statement of Objects and Reasons. - The Negotiable Instruments Act, 1881 was amended by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act ... Negotiable Instruments Laws (Amendment) Act, 1988 wherein a new Chapter XVII was incorporated for penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. These provisions were incorporated with a view to encourage the culture of use of cheques and enhancing the credibility of the instrument. The existing provisions in the Negotiable Instruments Act ...

Aug 11 2006

Shivaji Sampat Jagtap Vs. Rajan Hiralal Arora and The State of Maharas ...

  • Decided on : 11-Aug-2006

Court : Mumbai

Reported in : 2007CriLJ122

... image of a truncated cheque and a cheque in the electronic form as well as exempting an official nominee director from prosecution under the Negotiable Instruments Act, 1881. 13. Accordingly, the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 was passed by the Parliament and it received the assent of the President on 17.12.2002 by which the amendments to ... the evidence in a case under Section 138 of the Negotiable Instruments Act, 1881 (for short 'the Act') ceases to exercise jurisdiction therein, either on account of his transfer or retirement, and is succeeded by another Magistrate, whether in view of the provisions contained in Section 143 of the Act, the succeeding Magistrate requires to hold a denovo trial ... Negotiable Instruments Act, 1881 and to make recommendations as to what changes were needed to effectively achieve the purpose of that section. The Working Group along with other representations from various institutions and organisations made recommendations which were examined by the Government in consultation with the Reserve Bank of India and other legal experts, and a Bill, namely, the Negotiable Instruments ... on Finance in view the Parliament decided to bring out, inter alia, the following amendments insofar as Chapter XVII of the Negotiable Instruments Act, 1881, is concerned namely:-to increase the punishment as prescribed under the Act from one year to two years; to increase the period for issue of notice by the payee to the drawer from ...

Sep 30 2005

Mohamed Ali Mulla Vs. State of Goa and Anr.

  • Decided on : 30-Sep-2005

Court : Mumbai

Reported in : III(2006)BC60

... Section 6-A of the General Clauses Act, 1897 and Section 4 of the Repealing and Amending Act, 2001.6. There is no dispute that Chapter XVII of the Negotiable Instruments Act, 1881, containing Sections 138 to 142 came to be introduced or incorporated in the said Act by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 (Act 66 of 1988) with effect ... by the accused under Section 138 of the Act took place at a time when Sections 138 to 142 were not found on the Statute Book as the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 by which they were introduced into the Negotiable Instruments Act, 1881 was repealed by the Repealing and Amending Act, 2001. The second submission is that the ... been convicted and sentenced and whose sentence has been confirmed by the learned Additional Sessions Judge, Margao by judgment/order dated 6.5.2005, under Section 138 of the Negotiable Instruments Act, 1881 (Act for short).2. The applicant accused had borrowed from the respondent No. 2 complainant a sum of Rs. 5,00,000/- (rupees five lakh) on or about ... Act by the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 (Act 66 of 1988) with effect from 1.4.1989. As regards this aspect, the learned Division Bench of this Court in the case of K.K. Vasudeva Kurup v. The Union of India II : AIR2003Bom64 observed that 'it is clear that Parliament wanted to amend the original Act ...

Jun 17 2008

Sri. Ashok Kumar Vs. Dr. T.R. Bhageerathi

  • Decided on : 17-Jun-2008

Court : Karnataka

Reported in : 2009CriLJ221; ILR2008KAR3865; 2009(1)KarLJ17; ILR2008(3)Kar3865; 2008(4)KCCR2500; 2008(6)AIRKarR219

... Section 200 Cr.P.C. for the offence punishable under Section 138 of Negotiable Instruments Act. He contended that under Section 142 of the Negotiable Instruments Act only the payee or holder-in-due-course are competent to maintain a petition for the offence punishable under Section 138 of Negotiable Instruments Act. Respondent is neither payee nor holder-in-due-course and therefore she is ... .2005 in C.C. No. 289/2005 on the file of Judicial Magistrate, I Class, Bagepalli, taking cognizance of the offence punishable under Section 138 of Negotiable Instruments Act (for short 'the Act') and issuing process to the petitioner.2. The respondent contends that the petitioner for consideration received issued a cheque on 02.11.2004 for a sum of Rs ... legal representative of the deceased filed a private criminal complaint against the petitioner under Section 200 Cr.P.C. for the offence punishable under Section 138 of the Negotiable Instruments Act. The Trial Court under the impugned order dated 11.10.2005 had taken cognizance of the offence, registered the case in C.C. No. 289/2005 and issued ... . The Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act 1988 (Act No. 66/1988) has inserted Chapter XVII comprising of Section 138 to 142 in the Act with effect from 1st April 1989. Further by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act 2002 (Act No. 55/2002) Section 143 to 147 are inserted in the Act. The object of this amendment is to ...

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