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What are the key provisions under Section 138 of the Negotiable Instruments Act?
Section 138 of the NI Act deals with dishonour of cheques for insufficiency of funds. Key provisions include:
- •Cheque must be presented within 3 months of issuance
- •Payee must issue demand notice within 30 days of dishonour
- •Drawer has 15 days to make payment after receiving notice
- •Complaint must be filed within 1 month of cause of action
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"Compliance tracking across multiple jurisdictions is no longer a bottleneck for us. Vidhaana handles the monitoring automatically."
Anita Deshmukh
Head of Legal, Financial Services Firm — Mumbai
"The contract review feature has significantly reduced our turnaround time and the risk of missing critical clauses."
Karthik Sundaram
Legal Operations Lead, Technology Company — Hyderabad
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