Time has arrived when significant changes in the mode and conveyance of money have already taken place and from paper money we have seen it shift to plastic money and ultimately electronic transfers have radically replaced the conventional financial dealings. Contemporary practices further envisage that the legislature brings into force corresponding changes in the provisions related to Dishonour of Cheques in the Negotiable Instruments Act, 1881 or give it a wider scope of adjudication. More particularly, the manner in which the demand notices have to be served upon the drawer of the cheque after its dishonour needs attention.
A new chapter has been added in this edition on the relevant provisions of the Payment and Settlement Systems Act, 2007 relating to dishonour of electronic payments.
Abundance of case law has been streamlined to include precedents laying kown new propositions.