For the purpose of attracting the provisions of Section 138 of the Negotiable Instruments Act, 1881 a…
Clause (a) of the proviso to section 138 of the Negotiable Instruments Act requires the cheque to be presented "within a period of six months from the date on which it is…
Choose your answer
For the purpose of attracting the provisions of Section 138 of the Negotiable Instruments Act, 1881 a cheque must be presented to the bank
Answer and explanation
Correct answer C
Clause (a) of the proviso to section 138 of the Negotiable Instruments Act requires the cheque to be presented "within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier". Since 1 April 2012 the Reserve Bank has limited cheque validity to three months, which applies through the 'period of its validity' limb. Fifteen days, one month and one year are not the statutory test.
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