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Exim bank

Exim bank, means the Export-Import Bank of India established under s. 3. [Export- Import Bank of India Act, 1981 (28 of 1981), s. 2(c)]...

Giving notice in writing, Chapter XVII of the Act, containing ss. 138 to 142, was inserted in the Act as per Banking Public Financial Institution and Negotiable Instruments Laws (Amendment) Act, 1968. When the legislature contemplated that notice in writing should be given to the drawer of the cheque, the legislature must be presumed to have been aware of the modern devices and equipment already in vogue and also in store for future. If the Court were to interpret the words 'giving notice in writing' in the s. as restricted to the customary mode of sending notice through postal service or even by personal delivery, the interpretative process would fail to cope up with the change of time. If the notice envisaged in clause (b) of the proviso to s. 138 was transmitted by Fax it would be compliance with the legal requirement, SIL Import v. Exim Aides Silk Exporters, (1991) 4 SCC 567: AIR 1999 SC 1609 (1612, 1613). [Negotiable Instrument Act, 1881, s. 138, proviso (b)]Giving Notice in writi...

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