NEW DELHI: People can now file cheque bounce cases at the place where the cheque is presented for clearance and not at the place of issue, as per the new law which got President Pranab Mukherjee’s assent recently.
The Negotiable Instruments (Amendment) Act, 2015 has received the President’s nod on Saturday, official sources said today.
There are an estimated 18 lakh cheque bounce cases across the country, of which about 38,000 are pending in High Courts. Some litigants have to travel to different places from where the cheques were issued and not honoured.
The legislation 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. It will also result in fast prosecution of offenders. (AGENCIES)
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