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CHEQUE DISHONOUR INDIA
Loan default: Directors remain personally liable under NI Act even if company’s debt is settled through IBC proceedings, rules Bombay High CourtDirectors of an insolvent company remain liable for bounced cheques under the Negotiable Instruments Act, even if the company's debts are s...- PHDCCI pitches for compulsory suspension of bank drawls in cheque bouncing casesThe chamber also suggested that the bank should make payment of bounced cheque first before making any other payment from the account of th...
- SBI fined Rs 85,000 for misreading Kannada numeral on chequeVadirajacharya Inamdar issued a SBI cheque for Rs 6,000 to Hubli Electricity Supply Company Limited (HESCOM) towards his electricity bill o...
- Time to dishonour Section 138? Why there is little reason to continue with India's cheque bounce lawThe major lacuna in the law is that there's a presumption of mens rea without need for any additional proof. The mere fact that a cheque is...
- SBI SMS Alert: How to activate/deactivate State Bank of India SMS alert onlineAccording to the State Bank of India (SBI) website, here are the transactions for which you will receive an SMS alert. Based on your select...
- Traders move to Nirmala Sitharaman over 40 lakh pending cases on bounced chequesIn a letter addressed to Finance Minister Nirmala Sitharaman, the Confederation of all India Traders (CAIT), has suggested the formation of...
- Bill for quick prosecution of cheque bounce cases tabled in Lok SabhaThe Negotiable Instruments (Amendment) Bill, 2017, also seeks do away with "unnecessary" litigation in cheque dishonour cases.
- Not withdrawing bank cheque book facility: Ministry of FinanceEarlier this week, CAIT said that there is high probability of Centre withdrawing the cheque book facility in the near future to encourage ...
- Cheque bounce: Prakash Industries Ltd's MD gets one year jailThe court noted that the present matter was pending since 1997 and "the very purpose of Negotiable Instruments Act seems to have been frust...
- Budget 2017: Cheque dishonour may attract stricter penalty, new watchdog for payment systemsCurrently, Section 138 of Negotiable Instruments Act, 1881 governs dishonour of cheques, stating the same as a criminal offence.
- Vijay Mallya gets his 4th non-bailable warrant but businessman unmovedMallya, who is currently residing in the UK, left India on March 2. India has revoked the tycoon’s passport and has termed him a willful de...
- Reliance Capital files case against The LootReliance Capital Ltd, has filed a case against The Loot (India) Private Ltd and its directors alleging cheque bounce of Rs25 lakh.
- Insurer liable if policy holder not informed on cancellationSC has ruled that the companies cannot be absolved of its responsibility and are liable to pay compensation to the third parties in such si...
- Finance ministry advises banks to popularise e-payments to reduce usage of cheques, bank draftsThere are currently over 30 lakh cases of bounced cheque in the courts, a problem the government feels can be addressed through electronic ...
- A cheque lost in transit: How to minimise your lossWhat do you do if your cheque is misplaced by a bank or gets lost in the mail? Here are the ways you can minimise your loss and steps you c...
- Defaulted on cheques? Your account may be closedThose writing cheques without adequate funds in their account risk having their account blocked, a measure that will further tighten the re...
- Careless markings on cheques may cost you a tidy sumYou have to follow some basic steps to ensure some writing errors don't cost you your hard-earned money.What is cheque truncation? | Which ...
- Moily plans to fast-track cheque bounce casesFast-track courts will now deal with cases of bounced cheques too, with 38 lakh such cases congesting courts in the country.
- Kingfisher cheques in late, misses AAI a/csA cheque issued by Kingfisher Airlines to the Airports Authority of India for an amount of Rs 77 crore has bounced, highlighting the contin...
- Reimbursement of overseas medical cost a perkThe above decision of the Rajasthan High Court deals with an important issue, viz, whether reimbursement by an employer of medical expenses...
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