Tag: cheque bouncing
October 3, 2018
Corporate Law
Corporate Law
Amendments to the Negotiable Instruments Act
The Negotiable Instruments Act, 1881 ("Act") was implemented with the intention of amending the law related to promissory notes, bills of exchange and cheques. The Act has been amended time and again to ensure and enhance the trust in negotiable instruments. In furtherance to this, an amendment to the Act has been passed by introducing the Negotiable Instruments (Amendment) Bill, 2017 which was given the Presidential assent on the 2nd of August 2018, making the Negotiable Instruments (Amendment) Act, 2018 ("Amendment Act") come into existence. In furtherance to the assent, the Amendment Act has become effective from the 1st of September 2018, after being notified in the official gazette....