The Negotiable Instruments (Amendment) Bill was put forth before
the Lok Sabha by
the Finance Minister on January 2, 2018. It received the assent
of the President and was notified in the Official Gazette on
02.08.2018 to become an Act called the Negotiable Instruments
(Amendment) Act, 2018 (No. 20 of 2018).
AIM - The Amendment Act aims to meet the following:
- Reducing the undue
delay in the cheque dishonor cases and,
- Provision for payment of
interim compensation to the complainants.
OBJECT - Ease of doing
business is the main object of the Amendment.
The Statement of Objects and Reasons of the
Negotiable Instruments (Amendment) Bill is produced herein
below:
"The Central Government has been receiving
several representations from the public including trading
community relating to pendency ofcheque
dishonour cases. This is because of delay tactics of unscrupulous
drawers of dishonoured cheques due to easy filing of appeals and
obtaining stay on
