Complete study guide with 15 practice questions, detailed explanations, and expert solutions for Section 138 in CA Foundation Business Laws.
Free study material for CA Foundation Business Laws — The Negotiable Instruments Act, 1881
Section 138 NI Act: Criminal offense for cheque dishonour due to insufficient funds/exceeded limit. Complaint: Payee must present dishonour notice within 30 days of dishonour. Punishment: Up to 2 years imprisonment, fine up to 2x cheque amount, or both. Compounding: Cheque amount settlement may lead to case withdrawal. For accountants, Section 138 understanding critical for cheque collection and legal compliance.
Master the core concepts and exam-focused topics
Learn from comprehensive study notes with real-world examples
Practice with questions that actually appear in CA Foundation exams
Track your performance and identify weak areas instantly