Section 138

anshul sangal (Querist) 10 February 2010 This query is : Resolved
Please define in simple word section 138 of Negotiation Instrument act

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 10 February 2010
generally this section is used for initiation of criminal action against a person who issued a cheque but it bounced due to his fault and such person despite of demand do not make payment of the bounced cheque within 15 days of the receipt of notice.

B K Raghavendra Rao (Expert) 10 February 2010
Instead of asking for definition for Section 138 which in no way would help you, you better go through the section. It is in simple terms and you can understand.

Parveen Kr. Aggarwal (Expert) 10 February 2010
Section 138 N. I. Act is a statutory protection to a person having legally enforceable liability towards the other, the cheque issued by whom gets dishonoured for want of sufficient funds etc. by making the drawer liable for penal consequences. Section 138 also prescribes the procedure which has to be followed therefor.

Guest (Expert) 10 February 2010
I agree with Mr.BKR Rao for his expert reply.

Guest (Expert) 10 February 2010
read the section its simple..... as Mr makkad already cleared ur querry

Adinath@Avinash Patil (Expert) 10 February 2010
IT IS BETTER GO THROUGH THE SECTION 138 OF N.I. ACT AND COMMEMTRY THERE ON YOU WILL FIND YOUR ANSWER IN DETAIL.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries