Wednesday, May 6, 2015

Bill to check piling up of cheque bounce cases moved in Lok Sabha

 A Bill seeking to prevent piling up of cheque bounce cases in various courts and help the payee in the case of default, was introduced in Lok Sabha today. 

Finance Minister Arun Jaitley introduced the Negotiable Instruments (Amendment) Bill, 2015, which would help in "ensuring" a fair trial of cases under Section 138 that deals with cheques being not honoured, keeping in view the "interests of the complainant". 

"To address the difficulties faced by the payee or the lender of the money in filing the case under Section 138, because of which large number of cases are stuck, the jurisdiction for offence... has been clearly defined," the Statement on Objects and Reasons of the Bill said. 

If Parliament passes the Bill, then cases can only be filed in a court under whose jurisdiction the bank branch of the payee where the cheque is presented falls. 

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