Skip to main content
GST Review November-2022

Crux of sections 15, 56, and 138 of Negotiable Instruments Act, 1881 [NI Act] emphasized by the Hon’ble Supreme Court of India

Vijay M. Sachiv
The Hon’ble Supreme Court of India pronounced the Judgement on October 11, 2022 in Criminal Appeal No.  1497  of  2022  in  case of Dashrathbhai Trikambhai Patel vs. Hitesh Mahendrabhai Patel & Anr emphasizing importance of sections 15, 56 and 138 of NI Act. Initially, I frame out the basics of NI Act for valued Readers.  1. Introduction of NI Act, 1881 The very purpose of Negotiable Instruments is to avoid the carriage of higher amount of money and thereby to reduce the risk of theft, robbery, etc. To give legal effect to Negotiable Instruments there is legislation named as ‘The Negotiable Instruments Act, ” The said Act was enacted in India in 1881 during the British Rule. Negotiable Instrument is a piece of paper which entitles a person to a sum of money and which is transferable from person to person by endorsement and delivery. The .......