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  • The Negotiable Instrument Act 1881: Cheque Dishonour - Sec-138-142

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    Saurabh Sharma
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    The document discusses provisions around cheque dishonour under Sections 138-142 of the Negotiable Instrument Act 1881. It outlines the process where a bank informs the cheque holder of dishonour and provides a reason. The holder then issues a legal notice to the drawer, in this example Motorola Speciality Oils Ltd., demanding payment within 30 days. If payment is not made within 15 days, the holder can file a case in court against the drawer after 1 month.

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    CHEQUE DISHONOUR

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    The document discusses provisions around cheque dishonour under Sections 138-142 of the Negotiable Instrument Act 1881. It outlines the process where a bank informs the cheque holder of dishonour and provides a reason. The holder then issues a legal notice to the drawer, in this example Motorola Speciality Oils Ltd., demanding payment within 30 days. If payment is not made within 15 days, the holder can file a case in court against the drawer after 1 month.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    5 views1 page

    The Negotiable Instrument Act 1881: Cheque Dishonour - Sec-138-142

    Uploaded by

    Saurabh Sharma
    The document discusses provisions around cheque dishonour under Sections 138-142 of the Negotiable Instrument Act 1881. It outlines the process where a bank informs the cheque holder of dishonour and provides a reason. The holder then issues a legal notice to the drawer, in this example Motorola Speciality Oils Ltd., demanding payment within 30 days. If payment is not made within 15 days, the holder can file a case in court against the drawer after 1 month.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    THE NEGOTIABLE INSTRUMENT ACT 1881

    CHEQUE DISHONOUR -> SEC-138-142

    BANK INFORM + REASON HOLDER DELHI PAINTS & OIL TRADERS


    CHEQUE DISHONOUR

    HOLDER LEGAL NOTICE DRAWER MOTOROLA SPECIALITY OILS LTD.


    30 DAYS

    NEXT IS DAYS PAYMENT MOTOROLA SPECIALITY OILS LTD.


    HOLDER DEMAND DRWER
    DELHI PAINTS & OIL TRADERS

    AFTER EXPIRY OF 15 DAYS

    1 MONTH TIME
    HOLDER COURT
    DELHI PAINTS & OIL TRADERS 16TH DAY

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