With the passage
of the Negotiable Instruments (Amendment) Bill, 2002, in the Parliament,
seeking to amend the Negotiable Instruments Act, 1882, the deck
is now clear for expeditious disposal of cases relating to the
dishonoured cheques. It also provides for summary trials, for
dispensing with personal appearance of the complainant for preliminary
evidence and allowing it through affidavit as also providing for
other measures to speed up the disposal of such cases.
Meanwhile, a large
number of cases is pending under Section 138 of the Negotiable
Instruments Act, in the subordinate courts of Delhi and Mumbai.
In Delhi, 62,162 cases for dishonoured cheques are pending as
on date. Similarly, in the subordinate courts of Mumbai, 64,083
cases are pending.
The amended Act,
when enforced after the President’s assent, will go a long way
in expediting disposal of cases relating to bouncing of cheques
besides providing for enhanced punishment of two years imprisonment.
Besides, a large sum of money, locked up in litigation on account
of bounced cheques, will be released for giving impetus to availability
of finances in the emerging free market economy.
