Lok Sabha Passes Amendment To Negotiable Instruments Act; Provision For Interim Compensation to Payee Introduced

Manu Sebastian

24 July 2018 2:46 PM IST

  • Lok Sabha Passes Amendment To Negotiable Instruments Act; Provision For Interim Compensation to Payee Introduced

    The Lok Sabha has passed  Negotiable Instruments(Amendment) Act on July 23, 2018.The amendment introduces a new provision, Section 143A in the Act, which gives power to the Court to order payment of interim compensation by the drawer of the cheque to the complainant. As per this provision, interim compensation not exceeding twenty percentage of the cheque amount can be ordered to be paid...

    Manu Sebastian

    Manu Sebastian

    Managing Editor

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