Which one of the following punishment may be awarded in case of dishonor of cheque for insufficiency…
Section 138 of the Negotiable Instruments Act, 1881, punishes dishonour of a cheque for insufficiency of funds with imprisonment, or with fine which may extend to twice the…
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Which one of the following punishment may be awarded in case of dishonor of cheque for insufficiency under the Negotiable Instruments Act, 1881?
Answer and explanation
Correct answer B
Section 138 of the Negotiable Instruments Act, 1881, punishes dishonour of a cheque for insufficiency of funds with imprisonment, or with fine which may extend to twice the amount of the cheque, or with both, not thrice the amount, the same amount, or an unlimited amount.
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