NI Act

Introduction  Now in these days, financial transactions become more complicated, which is why there is a need to make them more flexible and easier. In these ways, the canclled cheque plays an important role in verifying bank account details for the purpose of activation of automatic debits from the customer …

Introduction A Cancelled Cheque plays a crucial role in the KYC process in the banking sector. Banking institutions must follow the KYC process to better understand their customers. In order to proceed with this process, it is necessary to provide proof of your identity and address. A cancelled cheque can …

Essential Ingredients of a Cheque Any bank account holder with a bank account in the particular bank is eligible to issue the cheque. Giving the cheque in favour of another person means he becomes a maker or drawer of the cheque. If a drawer desire, he may also write a …

Introduction  Writing a cheque for self withdrawal is an ancient and common method for withdrawing money from the self account from the bank. Nows in these days, after the revolution of the digital payment system, there are many options available for making payments and withdrawing funds from the own account …

Question – what happens when a complainant dies in the case of the negotiable Instrument Act? – The answer to the question is yes. As per the legal preposition, on the Death of the complainant in a summons case, the court can permit the legal representative to continue the complaint. …

Introduction Why do most people make their money transactions through the cheque method? Of course, it is a straightforward and secure method for all types of financial transactions. Whether the transaction is commercial or personal, it does not matter. But this method also has some positive and negative factors which …

(1) introduction:  Personal transaction or business transaction needs payment.  All people like to have a cash payment. But sometimes, cash payment carries risk. To make payment secured, people seek negotiable instruments like cheques or promissory notes.  But it is sorry to say that most of the time, people do the …

Question: If the death of Complainant in the S.138 NI Act, can legal heir of deceased complainant continue to proceed in the cheque bounce case U/s.138 of NI Act? The answer to the question is yes. If the complainant dies during the pendency of the trial of the cheque bounce …

Question: Whether demand notice can be faulted if any other sum indicated in addition to the said amount u/s.138 (b) of NI Act? The answer to the question is no. Here, we find that answer according to the provision of The Negotiable Instrument Act,1881, Section 138 (B) deals with the …

(1) What is a gift cheque? The gift cheque is another banking instrument presented for gifting money to the loved ones alternatively of hard cash. people are used various types of cheques not only for making business or financial transactions easy and safe but in this global world, people may …