Under section 142(1)(b) of the Negotiable Instruments Act, 1881, what period is prescribed for filing a…
Sections 142(1)(a) and (b) ordinarily require a written complaint by the payee or holder in due course within one month of accrual. Under clause (c) of the proviso to…
Choose your answer
Under section 142(1)(b) of the Negotiable Instruments Act, 1881, what period is prescribed for filing a section 138 complaint once the cause of action arises, before any condonation of delay?
Answer and explanation
Correct answer D
Sections 142(1)(a) and (b) ordinarily require a written complaint by the payee or holder in due course within one month of accrual. Under clause (c) of the proviso to section 138, the cause of action arises when the drawer fails to pay within fifteen days of receipt of the notice. The court may take cognizance after the prescribed period if sufficient cause for delay is shown.
Option feedback
Option A
Section 142(1)(b) prescribes one month. It contains no sixty-day filing period.
Option B
Section 142(1)(b) contains no ninety-day filing period.
Option C
The fifteen-day interval in section 138(c) is for the drawer to pay after receiving the demand notice.
Option D
Section 142(1)(b) prescribes one month from accrual under clause (c) of the proviso to section 138.
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