Cheque Bounce Recent Landmark Supreme Court Judgement l Section 138 NI Act

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I HAVE DISCUSSED THE JUDGEMENT IN THIS VIDEO...
Supreme Court of India
Rakesh Ranjan Shrivastava vs The State Of Jharkhand on 15 March, 2024
"Whether the provision of sub-section (1) of Section 143A of the Negotiable Instruments Act, 1881 (for short, ‘the N.I. Act’), which provides for the grant of interim compensation, is directory or mandatory. If it is held to be a directory provision, the question that arises is, what are factors to be considered while exercising powers under sub-section (1) of Section 143A of the N.I. Act."
The exercise of power under sub-section (1) of Section 143A is discretionary. The provision is directory and not mandatory. The word “may” used in the provision cannot be construed as “shall.” b. While deciding the prayer made under Section 143A, the Court must record brief reasons indicating consideration of all relevant factors.
Section 143A was brought on the statute book by Act No. 20 of 2018 with effect from 1st September 2018. Section 143A reads thus:
It empowers the Court to order the drawer of the cheque to pay Interim Compensation to the Complainanat.
i) In case of a summary trial or a summons case, where the drawer pleads not guilty to the allegations made in the complaint.
ii) In any other case, upon framing of the charges.
QUANTUM OF COMPENSATION- The compensation amount shall not exceed 20% of the amount of the cheque.
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