Critical Analysis of Section 138 of Negotiable Instruments Act, 1881
Promissory notes, bills of exchange and cheques are being used as Negotiable Instruments for economic transaction since long time as a mode of of transferring money. With time the development of economic sector specifically the banking sector cheque become the most used negotiable instrument but there is always a possibility which comes with this, during the time of issuing the cheque the probability of insufficiency of amount in the account. To protect the interest of the payee and to provide him justice Section 138 to 142 where inserted in Negotiable Instrument Act and this research paper focuses on the development the objective , nature and the current it development regarding decriminalization of sections relating to dishonoring of cheque in the Negotiable Instrument Act.
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