Avtar Singh's Negotiable Instruments : An Introduction

This new edition of Dr. Avtar Singh’s Negotiable Instruments has been thoroughly revised with the latest statutory developments, specifically the Negotiable Instruments (Amendment) Act, 2018. The major changes updated in this edition include the new Section 143A, which gives power to a Court trying an offense under S. 138 to order the drawer of the cheque to pay interim compensation to the complainant in summary trials/summons case where he pleads not guilty to the accusations in the complaint under certain circumstances and that the interim compensation shall not exceed 20 % of the amount of the cheque and shall be payable generally within 60 days from date of the order.

A mechanism of repayment of the interim compensation has also been put in place. Another new Section, S. 148 has been introduced which empowers the appellate court, hearing an appeal against a conviction under S. 138, to direct the appellant to deposit a minimum of 20% of the fine/compensation awarded, in addition to interim compensation paid under S. 143A. These new statutory developments have been enacted to ease doing business in India.