Recovery of Debts by Corporate: Cheque & Negotiable Instruments Act, 1881

In the modern world, cheques are being used in almost every form of transaction, be it debts, loan guarantees, employee salary payments etc. But there comes a bane with every boon. “Check Bounce” nowadays, is one of the most prevalent and common forms of financial problems in India, and this problem is also being faced by many corporate houses at a large scale. The law deems this to be a criminal offence in accordance with Section 138 of the Negotiable Instruments Act, 1881 respectively.