Author - Gloabal Judex
10Sep

Section 138 of the Negotiable Instruments Act Explained

By: Ashish Kumar Singh Introduction In modern financial and commercial transactions, cheques are a vital instrument for secure and formalized payments, particularly in high-value commercial transactions. However, increasing misuse of cheques has led to a substantial number of cheque dishonour cases in India. To curb this trend and to instil greater trust...

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09Sep

Section 138 of the Negotiable Instruments Act, 1881: A Complainant’s Legal Arsenal Against Cheque Dishonour.

By: Samadrita Debbarma

Abstract

The Indian financial system rests on the credibility of negotiable instruments, especially cheques. Section 138 of the Negotiable Instruments Act, 1881 ("NI Act"), introduced by the 1988 amendment, serves as a penal provision to reinforce this trust. Despite being quasi-criminal in nature, its ultimate objective is compensatory...

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