This new edition of Dr. Avtar Singh’s Negotiable Instruments has been thoroughly revised with the latest statutory developments, specifically the Negotiable Instruments (Amendment) Act, 2018. The major changes updated in this edition include the new Section 143A, which gives power to a Court trying an offense under S. 138 to order the drawer of the cheque to pay interim compensation to the complainant in summary trials/summons case where he pleads not guilty to the accusations in the complaint under certain circumstances and that the interim compensation shall not exceed 20 % of the amount of the cheque and shall be payable generally within 60 days from date of the order.
A mechanism of repayment of the interim compensation has also been put in place. Another new Section, S. 148 has been introduced which empowers the appellate court, hearing an appeal against a conviction under S. 138, to direct the appellant to deposit a minimum of 20% of the fine/compensation awarded, in addition to interim compensation paid under S. 143A. These new statutory developments have been enacted to ease doing business in India.
Dr. Deepa Paturkar, the revising author has included a new chapter to make the reader acquainted with the evolutionary process of the law relating to Negotiable Instruments. All eight chapters and two appendices of this edition have been thoroughly revised, including an in-depth insight into the liability under S. 138 of the Act. In this edition, the revising author incorporates case law that evolved after 2018 including landmark cases such as Surinder Singh Deshwal v. Virender Gandhi (2019) 11 SCC 341 which approved the retrospective effect of S. 148.
The present work with the latest updates in law and judgments will be useful not just for students but will also prove to be a quick reference for practicing lawyers, academicians as well as researchers.
1. Prelude 2. Negotiable Instruments 3. Presentment of Bill of Exchange 4. Crossed Cheques 5. Negotiation and Liability 6. Discharge from Liability 7. Liability for Dishonour of Cheques under Section 138 8. Miscellaneous Provisions
I. Highlights of the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 II. The Negotiable Instruments (Amendment) Second Ordinance, 2015