n.i.act

Querist : Anonymous (Querist) 27 November 2009 This query is : Resolved
weather the cheque issued as sequrity attract the provisions of 138 n.i.act? any judgements there?

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H. S. Thukral (Expert) 27 November 2009
This query has been raised earlier too. I reproduce my reply therein.

The cheque given as a security if dishonoured on account of insufficient funds would attract section 138 of NIA. There exists legally enforceable liability on this cheque. I would like to refer to a judgement of SC in the matter of Icds Limited v Beena Shabeer and Another. 2002 AIR(SC) 3014. Cheques given as voluntary donations etc may not create any criminal liability but a cheque given a security shall be meaningless if it is only a useless piece of paper, creating no liability.

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