NEW DELHI: Parliament today passed a bill aiming at allowing a court to try offences related to cheque bounce expeditiously and direct the drawee to pay a minimum of 20 per cent of the cheque amount as interim compensation.
The Negotiable Instruments (Amendment) Bill, 2018, which was passed in the Lok Sabha on July 23, was passed by the Rajya Sabha by a voice vote.
Moving the bill for consideration and passage, Minister of State for Finance Shiv Pratap Shukla said presently over 16 lakh cases of cheque bounce are pending in subordinate courts. Moreover, 34,000 such cases have gone to the high courts following appeal.
“We have brought the amendments to ensure that people have trust and faith on issuing cheques,” the Minister said, adding that 1881 law on negotiable instruments has been amended from time to time. (AGENCIES)
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