negotiable instrument act

Querist : Anonymous (Querist) 27 July 2011 This query is : Resolved
Whether 'legally enforceable debt' can only be filed u/s 138 of NI ACT. If the debt not shobwn in books of accounts of business can't be filed u/s 138? please provide latest case laws

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Devajyoti Barman (Expert) 27 July 2011
The proceeding filed u/s 138 NI Act is to be guided by the provisions from 138 to 142 NI Act , not bu what has been mentioned in the Book of Accounts.

N. AKSHAY BERI (Expert) 27 July 2011
PROVISIONS OF THE ACT LAYS DOWN ON THE BASIS OF NEGOTIABLE INSTRUMENTS AND WHAT ARE THE INSTRUMENTS HAVE ALSO BEEN MENTIONED IN THE ACT. BOOKS OF ACCOUNTS ARE NOT NEGOTIAble instrument and thus act will not apply.

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