In proviso (a) to section 138 of the Negotiable Instruments Act, 1881, which period from drawing the…
Proviso (a) to section 138 compares six months from the date the cheque is drawn with its validity period and takes the earlier limit. The RBI’s 2011 cheque-payment…
Choose your answer
In proviso (a) to section 138 of the Negotiable Instruments Act, 1881, which period from drawing the cheque is compared with its period of validity to determine the earlier presentment deadline?
Answer and explanation
Correct answer B
Proviso (a) to section 138 compares six months from the date the cheque is drawn with its validity period and takes the earlier limit.
The RBI’s 2011 cheque-payment direction, effective from 1 April 2012, set a three-month limit for payment of covered cheques. The statute retains the six-month wording.
Option feedback
Option A
Three months reflects the RBI cheque-payment direction effective from 1 April 2012. It is a different source from the wording of proviso (a).
Option B
The statutory comparison is between six months from drawing and the cheque’s validity period. The earlier limit controls.
Option C
The proviso specifies six months as the period to compare with the cheque’s validity.
Option D
The proviso specifies six months as the period to compare with the cheque’s validity.
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