| Bill to amend Negotiable Instruments Act likely |
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New Delhi, 4 June To check piling of chequebounce cases in courts, the government is mulling a Bill to amend the Negotiable Instruments Act, which provides for filing of such cases only in the place where the cheque is presented. An amendment Bill, already passed in the Lok Sabha, also seeks to overturn a2014 Supreme Court ruling which said the case has to be initiated where the chequeissuing branch was located. Sources in the government said if the Bill is issued, it might carry certain suggestions made by the Reserve Bank of India and will be different from the Bill now pending in the Rajya Sabha. The amendment provides that cases of bouncing of cheques can be filed only in a court in whose jurisdiction the bank branch of the payee ( person who receives the cheque) lies. If a complaint against a person issuing a cheque has been filed in the court with the appropriate jurisdiction, then all subsequent complaints against that person will be filed in the same court, irrespective of the relevant jurisdiction area. For full reports, visit www. business- standard. com |
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