An Analysis of Section 138 of the Negotiable Instruments Act, 1881 with reference to 420 of IPC
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Keywords:
Statue, Section 138, section 420, punishment, FindingsAbstract
The first draft of the Negotiable Instruments Act was created in 1866, and it was implemented in 1881. It was once a colonial statute and is still commonly used today. With the passage of Section 4 of the Banking, Public Financial Institutions and Negotiable Instruments (Amendment) Act, 1988, Chapter XVII, Sections 138 to 142 were added to the Act after a century (Act 66 of 1988). The penalty for dishonouring a cheque is covered under Section 138 of the Act. The cheque is a payable document drawn on a certain banker and does not expressly state that it is payable to someone else on demand. The researcher is analysing section 420 of IPC with Section 148 of Negotiable Instruments act. Section 420 deals with punishment up to seven years in case of cheating with regard to failure on delivering of property. The researcher will analyse all the key loopholes in the provisions of Negotiable Instruments and accordingly present the findings. The researcher will further rely on doctoral method of finding data.
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