BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

As per section 147 of the Negotiable Instruments Act, 1881, every offence punishable under the Act are?

A	Compoundable
B	Non-compoundable
C	Cognizable
D	None of the above

Explanation:

Detailed explanation-1: -147 Offences to be compoundable.-Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), every offence punishable under this Act shall be compoundable.

Detailed explanation-2: -147 NI Act | Every Offence Under Negotiable Instruments Act Is Compoundable: Karnataka High Court. The Karnataka High Court recently said that Section 147 of the Negotiable Instruments Act makes every offence punishable under the Act as compoundable and there is no bar on parties to compound the offence.

Detailed explanation-3: -Section 138 in The Negotiable Instruments Act, 1881. Take notes as you read a judgment using our Virtual Legal Assistant and get email alerts whenever a new judgment matches your query (Query Alert Service).

Detailed explanation-4: -138 NI Act | Fine Imposed Must Not Exceed Double The Cheque Amount: Kerala High Court. The Kerala High Court on Wednesday said that the maximum amount of fine, including the interest, imposed in a case under Section 138 of the Negotiable Instruments Act, 1881 must not exceed twice the amount of the cheque.

There is 1 question to complete.