Banking and Negotiable Instruments by Dr. Avtar Singh is a comprehensive book on banking and negotiable instruments. The book is divided into two parts. The first part deals with law of banking and the second part deals with negotiable instruments.
The following are the notable features of this edition:
Contains updated Banking Regulation Act, 1949 as amended by the Banking Laws (Amendment) Act, 2012.
Discusses the Negotiable Instruments (Amendment) Ordinance, 2015 and Negotiable Instruments (Amendment) Second Ordinance, 2015.
Includes the latest rulings of the Supreme Court and High Courts.
The book discusses the jurisdiction issue for an offence of criminal liability for dishonour of cheques, which has been a vexatious issue for the courts and the litigators with conflicting Supreme Court
pronouncements. In this respect, the author has discussed Dashrath Rupsingh Rathod v State of Maharashtra, (2014) 9 SCC 129 which prompted Parliament to pass an Ordinance to finally settle the law
on this issue. The book also discusses the establishment of Depositor Education and Awareness Fund.
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The book will be of immense use for students of LL.B. and LL.M., bankers, financial institutions and businessmen. The book will prove to be indispensable for students appearing for the General and
Specialist Officers exam conducted by the IBPS and bank employees and professionals appearing for the JAIIB/CAIIB examinations conducted by the Indian Institute of Banking & Finance.
In this book for the first time the subject of negotiable instruments has been dealt with elaborately covering not only the latest case-law on the subject but also the recent amendments in the law relating to negotiable instruments. For example, this is one of the first commentaries that incorporate the changes introduced by the Amendment Act 55 of 2002. The act has ushered in remarkable changes in its wake. The law relating to dishonour of cheques has been made more stringent and the procedure to be followed by the Courts in such cases has been simplified to enable the speedy disposal of the cases. The limitation period for the issue of notice in such cases has been increased to 30 days from 15 days. The amendment further provides for the issue and acceptance of cheques in electronic form including truncated cheques in electronic image it also provides for digital signatures ans asymmetric crypto system.
The work gives a detailed commentary on the three kinds of negotiable instruments recognised by the Indian Negotiable Instruments Act, 1882, viz., promissory note, bill of exchange and cheque. A comprehensive introduction, discusses the definition of a Negotiable Instrument and the kinds of negotiable instruments, the rights and duties of the parties as well as the legal conditions to complete the negotiable instrument, all explained in an unambiguous language. A large number of cases relating to cheques, including dishonour of cheques, have been discussed.
Another highlight of the book is its simplicity of explanation combined with a style that ensures easy understanding for the reader. The book will surely prove to be indispensable for lawyers, bankers, financial institutions, businessman and students.