• (513) Views
  • Bookmark and Share

Cheque Bounce Offense Expected to End

The government will soon carry an adjustment in the Negotiable Instruments (NI) Act that will control banks from exhausted a person to court for an offense like cheque bounce. All such cases, after the changes are influenced, will have to be determined only throughout adjudication, pacification or settlement by Lok Adalats. It is expected that more than 30% of all the pending cases in courts around the nation are either related to cheque bounce or traffic challans. The planned change in the NI Act has been recently suggested by an inter-ministerial group (IMG), which was set up last year to make suggestions for required policy and legislative changes to deal with a large number of cases pending in a variety of courts. The law ministry is working personally with the finance ministry and the surface transport ministry to make appropriate changes in the law and cases falling under both categories (cheque bounce and traffic challans) will be not entitled to be taken to courts unless some other criminal intent is alleged. The changes in the NI Act will make it required for the arguments parties to decide the matter through alternate dispute resolution mechanism. Amendments in the Motor Vehicles Act are recommended for cases related to traffic challans. "The utilization of alternate dispute resolution mechanism on the lines of Section 89 of the Code of Civil Procedure, through arbitration; reconciliation; judicial resolution including settlement through Lok Adalat of mediation may be made compulsory in cheque bounce cases by making appropriate amendments in the negotiable instruments act," the IMG suggestion said.

Post Your Comments
Recent News
Padmavti Movie Not Release in Rajasthan, MP and Punjab.
Prime Minister Narendra Modi Nepal Visit
Subsidized LPG Increase to 12 Cylinders
Nadella Apt to be Next Microsoft CEO
Super30 Founder Got Ramanujan Math Award
Pinterest Starts ‚ÄúExplore Interests‚ÄĚ Section
CBSE Board Exam Admit Cards Go Online
RBI to Extract Pre-2005 Currency Notes
Kawasaki Z800 Launched at Rs 8.05 Lakh
Google Eating Site’s Pageviews, Wiki Too