Parliament enacted the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 (55 of 2002), which is intended to plug the loopholes. - that every transfer of a negotiable instrument was made before its maturity; (e) as to order of indorsements. References. ^ "11th Report - Law Commission of India" (PDF). The most important class of Credit Instruments that evolved in India were termed Hundi.
It is manifest that to constitute an offence under Section 138 of the Act, the following ingredients are required to be fulfilled:. -It extends to the whole of India but nothing herein contained affects the Indian Paper Currency Act, 1871, Section 2, or affects any local usage relating to any instrument in an oriental language. - that the indorsements appearing upon a negotiable instrument were made in the order in which they appear thereon; (f) as to stamp. ^ "Dishonour of Cheque - How Criminal Liability arises". Section 124 - Cheque crossed specially Where a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed specially, and to be crossed to that banker. favorite share Flag this item for Graphic Violence Graphic Sexual Content Spam, Scam or Fraud Broken or Empty Data textsThe Negotiable instruments act, 1881: (Act XXVI of 1881) as modified up to . by India, India Legislative Dept Google-id ZzMbAAAAYAAJIdentifier negotiableinstr00deptgoogScanner googleSource textsIdentifier-access 229484135Scandate 20080524Copyright-region USIdentifier-ark ark:/13960/t7xk8xk37Imagecount 55Ppi 600Ocr ABBYY FineReader 8.0Backuplocation ia90360421 SHOW MORE SHOW LESS Book digitized by Google from the library of Harvard University and uploaded to the Internet Archive by user tpb. The Negotiable instruments act, 1881: (Act XXVI of 1881) as modified up to .
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