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Negotiable Instruments Act, 1881 Chapter II

Title: Of Notes, Bills and Cheques

State: Central

Year: 1881

.....to the order of, a certain person or to the bearer of the instrument. A promise or order to pay is not "conditional", within the meaning of this section and section 4, by reason of the time for payment of the amount or any instalment thereof being expressed to be on the lapse of a certain period after the occurrence of a specified event which, according to the ordinary expectation of mankind, is certain to happen, although the time of its happening may be uncertain. The sum payable may be "certain", within the meaning of this section and section 4, although it includes future interest or is payable at an indicated rate of exchange, or is according to the course of exchange, and although the instrument provides that, on default of payment of an instalment, the balance unpaid shall become due. The person to whom it is clear that the direction is given or that payment is to be made may be a "certain person", within the meaning of this section and section 4, although he is mis-named or designated by description only. Section 6 - "Cheque" 1[ 6 . "Cheque" A "cheque" is a bill of exchange dr awn on a specified banker and not expressed to be payable other wise than on.....

Negotiable Instruments Act, 1881 Section 6

Title: "cheque"

State: Central

Year: 1881

.....with the use of digital signature (with or without biometrics signature) and asymmetric crypto system; (b) "a truncated cheque' me ans a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission, sub stituting the further physical movement of the cheque in writing. Explanation II.-- For the purposes of this section, the expression "clearing house" me ans the clearing house managed by the Reserve B ank of India or a clearing house recognised as such by the Reserve B ank of India.] _____________________ 1 . Substituted b y Act 55 of 2002 , sec. 2 , for "A "cheque" is a bill of exchange dr awn on a specified banker and not expressed to be payable other wise than on demand" (w .e.f . 6 - 2 - 2003 ).

Negotiable Instruments Act, 1881 Amending Act 1

Title: Amendment Act

State: Central

Year: 1881

..... P RAEMBLE An Act further to amend the Negotiable Instruments Act, 1881 , the B ankers' B ooks Evidence Act, 1891 and the Information Technology Act, 2000 . BE it enacted by Parliament in the Fifty-third year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1 . Sh ort title and commencement ( 1 ) This Act may be called the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 . ( 2 ) It sh all come into force on such date1as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act. CHAPTER II AMENDMENTS TO THE NEGOTIA B LE INSTRUMENTS ACT, 1881 2 . Sub stitution of new section for section 6 For section 6 of the Negotiable Instruments Act, 1881 ( 26 of 1881 ) (h ereinafter in this Chapter referred to as the principal Act), the following section sh all be sub stituted, namely:-- ' 6 . "Cheque".--A "cheque" is a bill of exchange dr awn on a specified banker and not expressed to be payable other wise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form. Explanation I.--For the.....

Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 Chapter II

Title: Amendments to the Negotiable Instruments Act, 1881

State: Central

Year: 2002

.....house managed by the Reserve Bank of India or a clearing house recognised as such by the Reserve Bank of India.'. Section 3 - Amendment of section 64 Section 64 of the principal Act shall be re-numbered as sub-section (1) thereof, and after sub-section (1) as sore-numbered, the following sub-section shall be inserted, namely:-- "(2) Notwithstanding anything contained in section 6, where an electronic image of a truncated cheque is presented for payment, the drawee bank is entitled to demand any further information regarding the truncated cheque from the bank holding the truncated cheque in case of any reasonable suspicion about the genuineness of the apparent tenor of instrument, and if the suspicion is that of any fraud, forgery, tampering or destruction of the instrument, it is entitled to further demand the presentment of the truncated cheque itself for verification: Provided that the truncated cheque so demanded by the drawee bank shall be retained by it, if the payment is made accordingly.", Section 4 - Amendment of section 81 Section 81 of the principal Act shall be re-numbered as sub-section (1) thereof, and after sub-section (1) as on re-numbered, the.....

Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 Section 2

Title: Substitution of New Section for Section 6

State: Central

Year: 2002

For section 6 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the principal Act), the following section shall be substituted, namely:-- '6. "Cheque".-- A "cheque" is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form. Explanation 1.--For the purposes of this section, the expressions-- (a) "a cheque in the electronic form" means a cheque which contains the exact mirror image of a paper cheque, and is generated, written and signed in a secure system ensuring the minimum safety standards with the use of digital signature (with or without biometrics signature) and asymmetric crypto system; (b) "a truncated cheque" means a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission, substituting the further physical movement of the cheque in writing. Explanation II.--For the purposes of this section, the expression "clearing house" means the clearing house.....

Information Technology Act, 2000 Amending Act 1

Title: Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002

State: Central

Year: 2000

.....by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act. 2. Substitution of new section for section 6 For section 6 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the principal Act), the following section shall be substituted, namely:-- '6. "Cheque".-- A "cheque" is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form. Explanation 1.--For the purposes of this section, the expressions-- (a) "a cheque in the electronic form" means a cheque which contains the exact mirror image of a paper cheque, and is generated, written and signed in a secure system ensuring the minimum safety standards with the use of digital signature (with or without biometrics signature) and asymmetric crypto system; (b) "a truncated cheque" means a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission,.....

National Food Security Act, 2013, Section 12

Title: Reforms in Targeted Public Distribution System

State: Central

Year: 2013

.....include-- (a) doorstep delivery of foodgrains to the Targeted Public Distribution System outlets; (b) application of information and communication technology tools including end-to-end computerisation in order to ensure transparent recording of transactions at all levels, and to prevent diversion; (c) leveraging "aadhaar" for unique identification, with biometric information of entitled beneficiaries for proper targeting of benefits under this Act; (d) full transparency of records; (e) preference to public institutions or public bodies such as Panchayats, self-help groups, co-operatives, in licensing of fair price shops and management of fair price shops by women or their collectives; (f) diversification of commodities distributed under the Public Distribution System over a period of time; (g) support to local public distribution models and grains banks; (h) introducing schemes, such as, cash transfer, food coupons, or other schemes, to the targeted beneficiaries in order to ensure their foodgrain entitlements specified in Chapter II, in such area and manner as may be prescribed by the Central Government.

Negotiable Instruments Act, 1881 Complete Act

State: Central

Year: 1881

.....When the holder of an accepted bill of exchange enters into any contract with the acceptor which, under section 134 or 135 of the Indian Contract Act, 1872 (9 of 1872), would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged. SECTION 40: DISCHARGE OF INDORSER'S LIABILITY Where the holder of a negotiable instrument, without the consent of the indorser, destroys or impairs the indorser's remedy against a prior party, the indorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity. Illustration A is the holder of a bill of exchange made payable to the order of B, which contains the following indorsements in blank- First indorsement, "B". Second indorsement, "Peter Williams". Third indorsement "Wright & Co." Fourth indorsement "John Rozario". This bill A puts in suit against John Rozario and strikes out, without John Rozario's consent, the indorsements by Peter Williams and Wright & Co. A is not entitled to recover anything from John Rozario. SECTION 41: ACCEPTOR BOUND, ALTHOUGH INDORSEMENT FORGED An acceptor of a bill of.....