Does a Cancelled Cheque Require a Signature on it?
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…
Read more »Why is a Cancelled Cheque Required for KYC?
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…
Read more »What Are The Main Essential Ingredients Of A Cheque?
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…
Read more »How to write a Cheque for self in India?
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…
Read more »What happens if complainant died in the NI Act case?
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…
Read more »What is a Cheque Bounce Notice under Section 138 of the NI Act?
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…
Read more »Difference between Promissory note and Cheque under the NI Act
(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…
Read more »If Death of complainant, can legal heir of deceased continue to proceed in the cheque bounce case U/s.138 of NI Act?
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…
Read more »Whether demand notice can be faulted if any other sum indicated in addition to the said amount u/s.138 (b) of NI Act?
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…
Read more »What is a gift cheque? if the cheque is given as a gift can it attract to cheque bounce case?
(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…
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