Does the payment of 20% of the amount of the cheque as per amendment in the Negotiable Instruments Act, 1881 under Section 143 A applicable to cases pending prior to the amendment also ?
Section 148 of the Negotiable Instruments Act was also inserted in the Amended Act on September 1, 2018, with prospective effect. However, appellate courts in several cases directed the accused persons to deposit 20% of the cheque/compensation amount, treating the said provision retrospective in nature. Consequently, several accused approached the higher courts throughout the country.…