Dear Querist
as per your Doubt my opinion is mention below
1) 1). What is the stipulated time means, as per N.I act, is it 30 days or 15 days,
Opinion: 15 days according to Section 138 (b) of NI Act
2) 2) On what day the case of action arises per N.I act, from the receipt of notice. As per as per sec 138 (C) of N.I Act.
Opinion: the cause of actione arises after 15 days if the accused/drawer fails to make the payment(after 16th day of the reciept of the notice)
3) 3) What is the day before which a complaint has to be field before the court of law, is it 45 days or 60 days, from the receipt of notice by the accused. Any citation supporting the theory.
Opinion: after finish the 15 days of Notice period the cause of action arises from 16 days and the time limit to file the case before court is one month from that 16th day.
4) 4) Is there any amendment in N.I act that cause of action arises only after 30 days of receipt of notice and citation regarding the issue.
Opinion: No amendment in this regard.
5) 5) Is there any amendment in sec 138 (C) of N.I Act.
last amendment in 2002
Read the section 138 of NI ACt carefully
138. Dishonour of cheque for insufficiency, etc., of funds in the account. Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid. either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made with that bank, such person shall be deemed to have committed an offence and shall, without prejudice. to any other provision of this Act, be punished with imprisonment for a term which may extend to one year, or with fine which may extend to twice the amount of the cheque, or with both: Provided that nothing contained in this section shall apply unless-
(a) the cheque has been, presented to the bank within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier;
(b) the payee or the holder in due course. of the cheque as the case may be, makes a demand for the payment of the said amount of money by giving a notice, in writing, to the drawer of the cheque, within fifteen days of the receipt of information by him from the bank regarding the return of the cheque as unpaid; and
(c) the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice. Explanation.- For the purposes of this section," debt or other liability" means a legally enforceable debt or other liability.
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