Section 138 NI Act: A Comprehensive Analysis From Origins To Acquittal

Sarthak Aswal, ILS Law College, Pune

ABSTRACT

A historic legal framework that attests to the centuries-long growth of financial transactions is the Negotiable Instruments Act of 1881, of which Section 138 captures the subtleties and complexity of the dishonour of cheques and standing out within its intricate framework. This study undertakes a thorough investigation, starting with a summary of negotiable instruments and following the historical process that resulted in the creation of Section 138. This paper aims to embark on a journey that comprehensively explores the meaning of negotiable instruments, their types, and the historical trajectory that led to the enactment of Section 138 of the Act.

Diving into the soul of Section 138 the paper navigates through its essentials, presumptions, procedural intricacies, punitive measures, and acquittals. The paper also takes help from various leading judgments which help in understanding the importance of judicial precedents in shaping Section 138 of the Act. This research aspires to contribute towards a nuanced understanding of the multifaceted implications of Section 138 in the legal landscape.