#cheques

[kamalkafir-blog]

Spending Review: Massive cheques from chancellor for some

[News] Laura Kuenssberg Presenter, Sunday with Laura Kuenssberg•@bbclaurak BBC The next few days are vital – “one of the last moments to weave it all together – to look politically credible to the people Labour has lost”, one senior figure reckons. There have been huge fights inside government about the looming Spending Review. As I write, the home secretary and deputy prime minister are both…

[latestlaw]

Notice, Complaint, and Section 138 of the NI Act: Understanding Dishonour of Cheques

The introduction of cheques revolutionized the commercial and corporate world. Instead of carrying large sums of cash, people found it convenient and safer to carry a small piece of paper called a cheque. Cheques quickly became an essential part of banking, commerce, industry, and the economy overall.

However, as the use of cheques increased, so did the misuse. Many people started issuing cheques without having enough funds in their bank accounts, with no intention to honor the payment. Before 1988, there was no strong legal provision to control or punish this behavior. Although a dishonoured cheque created a civil liability, recovering the money through civil lawsuits was a slow and difficult process.

Need for Stronger Laws

To address this growing issue, the Indian government amended the Negotiable Instruments Act, 1881. Through the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988, and later the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002, a criminal remedy was introduced. This ensured faster action against defaulters and helped maintain the credibility of cheques as a mode of payment.

Section 138: The Key Provision

Section 138 of the Negotiable Instruments Act creates a statutory offense when a cheque is dishonoured due to insufficient funds. It is important to note that this offense is slightly different from traditional criminal acts. Usually, in criminal law, there must be a guilty mind or "mens rea." However, under Section 138, the law applies strict liability, meaning the existence of wrongful intent is not necessary to prove the offense.

The main idea is to protect the trust people place in cheques and promote honesty in financial transactions.

When Does Section 138 Apply?

For Section 138 to apply, certain conditions must be met:

A person must have drawn a cheque for payment of money to another person.

The cheque must be issued for the discharge of a debt or liability.

The cheque must be presented to the bank within its validity period (usually 3 months).

The cheque must be returned unpaid due to insufficient funds or because it exceeds the arrangement with the bank.

The payee must send a written notice to the drawer of the cheque within 30 days from the date of receiving information about the dishonour.

The drawer must fail to make the payment within 15 days of receiving the notice.

If these steps are followed and the payment is still not made, the payee can file a criminal complaint against the drawer.

Notice under Section 138

The first legal step after a cheque bounces is sending a demand notice. This notice must:

Be in writing.

Clearly state that the cheque was dishonoured.

Demand the cheque amount to be paid within 15 days.

Sending the notice is crucial. Without it, you cannot move forward with a criminal complaint under Section 138.

Complaint under Section 138

If the drawer does not pay even after receiving the notice, the payee can file a complaint in the court. The complaint should:

Be filed within one month after the expiry of the 15-day period given in the notice.

Be filed in the court with proper jurisdiction, usually where the cheque was presented or where the bank is located.

Along with the complaint, the complainant needs to provide:

Copy of the cheque.

Bank memo showing cheque return.

Copy of the legal notice and proof of sending it.

Any reply received from the drawer.

The court, after examining the documents and initial evidence, may summon the accused for trial.

Penalty under Section 138

If the court finds the accused guilty, the punishment can include:

Imprisonment for up to two years.

A fine that may extend to twice the amount of the cheque.

Or both.

However, in many cases, courts try to promote settlement between the parties before imposing jail time.

Conclusion

The advent of cheques changed how business and banking worked by making transactions easier and safer. But misuse of cheques created serious problems. Section 138 of the Negotiable Instruments Act helped solve these issues by making cheque dishonour a punishable offense.

Today, people trust cheques more because of these legal protections. Still, it is important to understand and follow the legal steps carefully — from sending a notice to filing a complaint — to successfully address cheque dishonour cases.

By making the law simple and quick to enforce, the amendments have strengthened commerce, industry, and the banking system. They ensure that cheques continue to be a reliable and trusted mode of payment in India.

[naigunjo]

Different Sections of a Cheque

Parts Of A Check include your bank account information, the amount paid, and the payee’s name. https://onlinecheckwriter.com/parts-of-a-check/

[bhaskarlive]

Clearing time for cheques to be cut from 2 days to a few hours: RBI chief

The RBI aims to reduce the clearing time required for bank cheques to a few hours as part of a major step to facilitate the ease of doing business in the country, RBI Governor Shaktikanta Das said on Thursday.

At present, cheque clearing through the Cheque Truncation System (CTS) operates in a batch processing mode and has a clearing cycle of up to two working days. It is proposed to reduce the clearing cycle by introducing continuous clearing with ‘on-realisation-settlement’ in CTS, Das explained.

Source: bhaskarlive.in

[nakeddeparture]

Barbados. Mia Mottley is being asked to restore the Welfare Grants.

https://youtu.be/lzwkumzMVRQ

Barbadian families are suffering. Naked!!

[connorsnothereeither]

Since everyone is missing Fable so much recently I’d like to pitch to you all some of my potential Fable SMP spin off ideas I’ve been cooking on:

The Morningstars: a spin off series about Fable and Islas marriage before Icarus and Rae were born where Isla is a girl boss adventurer but they try to make us not hate Fable for some reason and convince us he’s actually a great guy. Also only one of the cast members is actually involved in the production and didn’t tell anyone else and it causes a massive Twitter beef when the spin off is announced

Young Icarus: a show about Icarus as a child narrated by older Icarus about how misunderstood they were a kid, but really you just end up more invested in and sympathetic for the other surrounding characters in the show and kinda wish they were in more of the original Fable to begin with

Fable Fights: kind of like Creator Clash where the fable cast has to fight each other. Not in minecraft or anything they just literally have to beat each other up irl

House of Morningstar: a sprawling fantasy prequel show about Morningstar Kingdom but like wayyyy before any of the characters people care about. Like centuries ago. Like the connection to Fable SMP is actually really minimal other than the setting. It’d actually be pretty good and people would like it but you also need to look at it as a completely seperate entity cause like other than the word it doesn’t share a whole lot of crossover at all

Wilkins: The Tuskly family moves back to the Nether to look after Wilkin’s elderly parent and have to start a new life, where Wilkins becomes a radio psychiatrist, sharing the lessons he learned by helping Ulysses with the rest of the Nether through broadcast.

Minecraft Chef: a cooking show where all the cast have to actually try and make the food and drinks from Fable but irl. It starts off easily but the longer it goes on shit gets weirder and more difficult/dangerous. You go from like,,, Starbarks coffees to Icarus’ weird fucking potions (the finale is making an eye potion and someone needs to make the sacrifice to win)

Guardian Games: What starts as a telchin game show with the potential to win a lot of money quickly turns into a life or death challenge as the games get more and more deadly and introduce a whole ton of telchin experiments

Thank you for your time 😌

[slutforpringles]

This conversation between Daniel and the VCarb team member that Netflix use to try and show how devastated Daniel is after the British GP is actually from post-Qualifying during the Azerbaijan GP, and the conversation was had in the context of Daniel being frustrated at just narrowly being eliminated in Q1 in P16.

(pretty easy to spot too Netflix, given the beard Daniel is sporting was not seen at any stage during the British GP weekend)

[areyouscaredyet]

so im assembling a team….

[allthecanadianpolitics]

NDP Leader Jagmeet Singh is calling on the Liberal government to go back to the drawing board after learning that the Working Canadians Rebate won't apply to many seniors, people with disabilities and recent graduates.

Prime Minister Justin Trudeau announced last week that his government plans to lift the GST from some essential goods for two months to offer Canadians some relief from cost-of-living pressures.

He also said his government plans to send $250 rebate cheques to Canadians who worked in 2023 and had incomes of up to $150,000.

Continue reading

Tagging: @newsfromstolenland

[chancetime]

-> Bonk! A bloxy cola can gently bonked against the gambler's head from somewhere above. What the hell-? - @pizza-party-support

He let out a surprised noise as the can bounced off of him and rolled onto the ground. Thankfully his tophat had shielded him from some of the landing impact, but he was still annoyed nonetheless.

“Who dares to-?!”

He fixed his hat back into place, his eyes darting around for the culprit. He swore, if it was that Noob kid…

[lokijiro]

Mycroft : I do not spoil my brother.

Lady Smallwood : You bought him six new laptops.

Mycroft : He needed them.

[tiedsh0es]

I can't decide if it's sad or hilariously funny that Mephone makes OJ pay taxes for his magic made up world. Imbues him with exestential dread if he isn't at his hotel doing chores for others 24/7. Episode one. Episode one, it's late at night everyone is partying and OJ is buying groceries.

He exhausts himself keeping up a hotel no one is ever going to visit because it isn't real 😭

[xmoonlitxdreamx]

chequaroo (<??)