Sec 143a of ni act is applicable from which date

Vijay (Querist) 27 September 2021 This query is : Resolved
Hi Every one.
1. Sec 143A of of NI Act is Applicable from Which Date?

2. I have filed a complaint U/s138 of NI Act on 10-8-2018 can I claim Interim compensation U/s143A of NI Act?
Please guide

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Section 143A of the Negotiable Instruments (NI) Act, concerning interim compensation, came into effect on 1st September 2018. While the Act received Presidential assent on 2nd August 2018, its applicability is prospective from the date of the official gazette notification, not retrospectively. Therefore, a complaint filed under Section 138 of the NI Act on 10th August 2018 cannot claim interim compensation under Section 143A.

Advocate Bhartesh goyal (Expert) 27 September 2021
( 1 ) sec 143A of N.I.Act came into force on 01-09-2018 and was applicable since then.
( 2 ) No.

Pradipta Nath (Expert) 28 September 2021
Agreed with the above expert.

Vijay (Querist) 28 September 2021
But Sir the Gazette of India states that sec 143A

The following Act of Parliament received the assent of the President on the
2nd August, 2018, and is hereby published for general information:

Whether it should come from 2nd Aug 2018

P. Venu (Expert) 29 September 2021
It has also been notified that "(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint"

Dr J C Vashista (Expert) 29 September 2021
It is applicable prospectively but not retrospectively, from the date of gazette notification and not grant of assent by the President.

Vijay (Querist) 30 September 2021
Thank a Lot everyone

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