Negotiable Instruments Act

Papanna (Querist) 15 April 2011 This query is : Resolved
Dear Sirs,

Is "Account Closed" Bank endorsement attracted Negotiable Instruments Act? if yes under which Section?

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Arvind Singh Chauhan (Expert) 15 April 2011
Return of cheque by bank with an endorsement “Account Closed” is offence by drawer of cheque as envisaged in Sec 138-Cr.L.J.-1999- 2883-S.C.

Papanna (Querist) 15 April 2011
Thank you very much sir

Naresh Kudal (Expert) 15 April 2011
Same effect as the endorsement "insufficient funds".

DEFENSE ADVOCATE.-firmaction@g (Expert) 16 April 2011
It depends on circumstances of the case. If the cheque is a stale one no case and even counter criminal case can be initiated for cheating, forgery and extortion.

RAJU O.F., (Expert) 18 April 2011
If the cheque is returned with endorsement that 'A/c closed' within 6 months of the date of issue, then it will attract Sec.138

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