Negotiable Instruments (Amendment) Bill, 2015 - (14 Dec 2015)

Passed by Lok Sabha in August of this year, the Rajya Sabha too stamped approval on the Negotiable Instruments (Amendment) Bill, 2015. The Bill addresses various issues raised pursuant to the Supreme Court judgment in Dashrath Rupsingh Rathod v. State of Maharashtra. It defines “a cheque in the electronic form” to cater for transactions where scanned copies of the cheques are exchanged, rather than it being physically tendered, and grants jurisdiction to courts where a cheque, ultimately dishonoured, is presented for payment.

Dashrath Rupsingh Rathod v. State of Maharashtra MANU/SC/0655/2014

Tags : NEGOTIABLE INSTRUMENTS CHEQUE JURISDICTION 2015