138ni act

AtulSha (Querist) 31 March 2012 This query is : Resolved
Respected Sir,
What is the maximum punishment and penality and any other order in case of judgement in case filed under Sec 138 ni act of cheque bounce

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Deepak Nair (Expert) 31 March 2012
Refer to the Act.
Academic queries not entertained by experts.

V R SHROFF (Expert) 31 March 2012
2 yrs jail+ double the cheque amount as penalty/ compensation

SAINATH DEVALLA (Expert) 31 March 2012
Dear Atul,

It depends on the amount of money involved,the evidence submitted and the mood of the judge at the time of judgement.The penalty can be from the basic cheque amount to twice or even sometimes thrice.The imprisonment can range from 6 months to 2 years.

G. ARAVINTHAN (Expert) 31 March 2012
Amount of Cheque
Time for completion of case
attitude of the accused
These are the things which are to be dealt when punishment given

N.K.Assumi (Expert) 31 March 2012
As per the recommendation of the Standing Committee on Finance, Amendment to the Act has enhance the penalty as pointed out by V.R Shroff.