Page Contents
To initiate prosecution under Section 138, three condition precedents need to be fulfilled as below:
The prosecution can be launched against the payor and in the case where a company has committed an offence under Section 138, then not only the company but also every person who at the time when the offence was committed, was in charge of and was responsible to the company shall be deemed to be guilty of the offence and be liable to be proceeded against.
The Cabinet has approved an amendment to current law to allow for payment of an interim compensation in cheque dishonour cases with a view not to allow unscrupulous elements holding payments, pending long trial, sources said. An amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation ( interim compensation can be an amount not exceeding 20 per cent of the amount of the cheque) to those whose cheques have bounced due to dishonouring parties.
One Deadline Relaxed, Another Tightened: Four Key IBBI Circulars Every Insolvency Professional Must Know The Insolvency and Bankruptcy Board of… Read More
Direct Tax Collections FY 2026-27 (as on 14.10.2026) – Detailed Analysis The data compares Direct Tax collections up to 14… Read More
Key Provisions, Jurisdiction, Mediation under Commercial Courts Act 2015 Introduction The Commercial Courts Act, 2015 marked a significant reform in… Read More
GST Council Proposes Major Measures to Simplify Compliance The GST Council has recommended a series of reforms aimed at reducing… Read More
XBRL Applicability under the Companies Act, 2013 – Detailed Explanation XBRL (eXtensible Business Reporting Language) is a globally accepted electronic… Read More
MSME New Feature Alert: PAN to MSME Search in Bridze MSME Compliance Suite The PAN to MSME Search feature in… Read More