NEW DELHI: A bill for quick prosecution in cheque bounce cases and provide compensation to the complainant was passed by the Lok Sabha today.
The Negotiable Instruments (Amendment) Bill, which was passed by a voice vote, provides for allowing a court trying a cheque bounce offence to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant.
This interim compensation, not exceeding 20 per cent, may be paid under certain circumstances, including where the drawer pleads not guilty of the accusation within 60 days of the trial court’s order to pay the compensation.
Earlier while moving the bill for passage, Minister of State for Finance Shiv Pratap Shukla said it will bring down ligitation and provide credibility to cheques and the banking system.
He said the bill will reduce inordinate delays in cheque bounce cases. (AGENCIES)
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