Bounced Promises: Legal Accountability Under Section 138 of the NI Act
A cheque bounce is more than just a financial inconvenience—it’s a legal offense under Section 138 of the Negotiable Instruments Act, 1881. This law was designed to ensure the credibility of cheque-based transactions and protect the interests of payees. A cheque is said to have bounced when it is returned unpaid due to reasons like […]
“Bounced Promises: Legal Accountability Under Section 138 of the NI Act”
In India’s growing economy, cheques remain a cornerstone of business and personal transactions. However, the misuse of this financial instrument—intentionally or unintentionally—has led to a surge in cheque bounce cases, triggering serious legal consequences. The Negotiable Instruments Act, 1881, specifically Section 138, plays a crucial role in upholding trust and accountability in such cases. This […]