Question

Sections 143 to 147 of Negotiable Instruments Act, 1881 came into force on:-

Q: Answer-Sections 143 to 147 of Negotiable Instruments Act, 1881 came into force on:-

When certain deficiencies were found in dealing with cases of dishonour of cheques, certain significant amendments were made to the NI, Act effective from 06.02.2003. New Sections 143 to 147were inserted empowering Magistrate to adopt summary trial for expeditious disposal within 6 months, to levy fine double the amount of cheque. More particularly Section 147 allowed parties to compound the offence.