Negotiable Instruments Act Current Affairs, GK & News

Lok Sabha passes Negotiable Instruments (Amendment) Bill, 2017 on cheque bounce cases

On July 23, the Lok Sabha passed the Negotiable Instruments (Amendment) Bill, 2017 that allows a court hearing a cheque bounce case to direct the drawer — the person who wrote the cheque — to pay interim compensation to the person who filed the complaint. The interim compensation, to be paid within 60 days of ..

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Lok Sabha passes Negotiable Instruments (Amendment) Bill, 2017

Lok Sabha has passed Negotiable Instruments (Amendment) Bill, 2017 to reduce the number of cheque dishonour cases pending in courts. The bill amends Negotiable Instruments Act, 1881 to primarily address issues of dishonor of cheques and deal with unnecessary delay in disposal of such cases. Negotiable Instrument It refers to any legal documents like cheques, ..

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