The Negotiable Instruments Bill having been passed by the Council received its assent on 9th December, 1881. It came into force on the 1st day of March, 1882 as THE NEGOTIABLE INSTRUMENTS ACT, 1881 (26 of 1881) (came on 1-3-1882). Advocate Nadeem Saifi is known as India’s best cheque bounce lawyer in Delhi. The Negotiable Instrument is a written document that is given in regard to pay a specific sum to the drawee or the bearer at a specific date by the drawer. Assigned document to a specific person by the drawer. After dishonouring of cheque drawee bank issues a cheque return memo to the drawee by mentioning the reason for the returns. Thereafter, the drawee issues the demand notice to the drawer. For default in making the payment of that demand notice the drawer files a complaint to the concerned court under section 138 of NI Act, 1882.
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