Cabinet approves ordinance to amend Negotiable Instruments Act
The union cabinet on Wednesday decided to promulgate an ordinance to amend the Negotiable Instruments Act to provide for filing of cases about dud cheques at places where these are presented.
 
"The cabinet has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015," an official release said. 
 
It said that the proposed amendments to the Negotiable Instruments Act, 1881 ("The NI Act") were focused on clarifying the jurisdiction related issues for filing cases for offence committed under section 138 of the Act. 
 
"The clarification of jurisdictional issues may be desirable as this would be in the interests of the complainant and would also ensure a fair trial," the release said. 
 
It said that clarity on jurisdictional issue for cases of cheque bouncing would increase the credibility of the cheque as a financial instrument.
 
"This would help the trade and commerce in general and allow the lending institution, including banks, to continue to extend finance to the economy, without the apprehension of the loan default on account of bouncing of a cheque," the release said. 
 
Section 138 of the NI Act deals with the offences related to dishonour of cheque for insufficiency of funds in the drawer's account.
 
The release said that various financial institutions and industry associations have expressed difficulties due to recent legal interpretation by the Supreme Court of the place of jurisdiction for filing cases to be the place of drawers' bank.
 
"To address the difficulties faced by the payee or the lender of the money in filing the cases because of which, large number of cases were stuck, the jurisdiction for offence under Section 138 has been proposed to be clearly defined," it said.
 
The Negotiable Instruments (Amendment) Bill, 2015 was passed in the Lok Sabha last month but could not be taken up in the Rajya Sabha.
 
The release said that the objective of the ordinance is to ensure fair trial keeping in view interests of the complainant by clarifying the territorial jurisdiction for cases for dishonour of cheques.
 
Officials said the move will benefit 18 lakh people.

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COMMENTS

Vaibhav Dhoka

1 year ago

My complaint in S.C.C.No:-2105/2004 in JFMC court no 6 Pune is pending since 11 years police failing to produce opponents in court and judge failing to take action on public notice summon dated 5/8/2010.In courts complainant is seen as culprit.The fact is complainant gets harassed and looses interest in case which is boon for judges.I informed Mumbai High Court and Pune District court without any feedback.With police hand in glove with opponent cases are dragged too long.

China's Dalian Wanda to set up industrial townships in India
The $100-billion Dalian Wanda Group of China is planning to develop industrial townships in India with built-in facilities such as schools, hospitals, shopping malls and recreational centres, a top official of the company has said.
 
Wang Jianlin, chairman of the group, expressed his company's interest while interacting with the Indian business community convened by the Confederation of Indian Industry (CII) here, according to a statement from the chamber.
 
Wang said that he was impressed with the foreign investment norms of the government and said this was his follow-up visit to India after meeting with Prime Minister Narendra Modi during his China visit in May.
 
He said that he would closely work with the local state governments to attract Chinese investments in the industrial townships set up by the Dalian Wanda Group.
 
Amitabh Kant, secretary, Department of Industrial Policy and Promotion, told the session that areas such as media and entertainment, tourism and culture should also be promoted bilaterally to create people to people awareness.
 
In his opening remarks, Chandrajit Banerjee, director general, CII, said that the centre piece of recent India - China engagement has been their cooperation in the economic sphere and the widening footprint of Chinese businesses in India and vice versa.
 
The $100-billion dollar Chinese company founded in 1988 operates in the areas of commercial property, luxury hotels, culture and tourism and department stores.
 
As many as 40 senior industry members from infrastructure, construction, tourism, hospitality, media and entertainment participated in the interactive session.

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Kozhikode airport re-opens after shootout
Operations resumed at the international airport here on Thursday after it was closed down on Wednesday when a CISF personnel was shot dead in a scuffle with an employee.
 
"We have posted our Kerala Police officers at key points at the airport to assist the CISF personnel in security duties," said Additional Director General of Police N. Shankar Reddy.
 
"A police team has been constituted to investigate the incident. Things are under control and the airport operations have resumed," said Reddy.
 
An Airport Authority of India (AAI) official entered a high security area of the airport around 8:30 p.m. on Wednesday and a CISF personnel on duty approached him to conduct a body search.
 
Police sources said that an argument broke out between the two and the gun of the CISF personnel was forcibly taken away from him. In the melee, the gun went off and a bullet hit the CISF personnel, identified as A.S. Yadav, 44, killing him on the spot.
 
Three people - two AAI personnel and a sub inspector of the CISF - were also injured.
 
Reddy was asked by the Kerala government to rush to the airport on Wednesday night. He told IANS that things returned to normalcy he brokered talks between the AAI officials and the CISF team.
 
Sources said long discussions were held to clear the runway closed by irate AAI officials who had blocked the runway.
 
Frequent skirmishes have been reported between these two departments in the recent past.
 
The investigating police team has already gone through the CCTV visuals of the episode.
 
The body of the CISF personnel would be handed over to his family after the an autopsy has been conducted.
 
Meanwhile, top AAI and CISF officials will arrive here later in the day and action is likely to be taken against the erring staff from either sides.
 
The union home secretary has asked the state police chief T.P. Senkumar to file a detailed report.

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