Negotiable Instrument Act
Sec
4 Definition of Promissory Note
5
Definition of Bill of Exchange
6
Definition of Cheque
8
Holder
9
Holder in due course
10
Payment in due course
13
Meaning of Negotiable instrument
15
Endorsement: Endorsement should be in free running handwriting and not in block letters also it should tally, letter to letter, with the name of the payee in the cheque
18
When there is difference in amount between the words and figures, the amount in words is to be treated as the amount ordered by the drawer to pay
20
Inchoate Instrument
22
Three days of grace for calculating the maturity date of usance instrument
25
Maturity date in holiday usance instrument is payable on next preceding business day
26
Minor may draw, endorse and accept a negotiable instrument so as to bind all parts except himself
31
Liability of drawee banker: Banker to compensate for wrongful dishonour
45A
Holder rights to get duplicate of lost bill
63
The drawee of a Bill of Exchange has to accept it within 48 hours of presentation (excluding public holidays)
82 I
If no rate of interest is mentioned in the Promissory Note, interest @ 18% p.a. is to be paid
85-A
Protection paying banker in case of Bank drafts.
85-(1)
Paying banker is protected by payment in due course of an order cheque which is properly endorsed by the payee or his agent
85-(2)
Protection to Paying banker in case of bearer cheques. Once a bearer, always a bearer
87
Material alteration of Negotiable Instrument renders it void
89
Paying Banker gets protection where a cheque is materially altered but does not appear to have been altered
99
Noting
100
Protest
118
Presumptions as to negotiable instruments of consideration
123
Cheque crossed Generally
124
Cheque crossed Specially
128
Payment in due course of crossed cheque
130
Not Negotiable crossing. The transferee cannot have a better title to the cheque than that of the transferor
131
Collecting Banker’s protection in respect of crossed cheques
138
Dishonour of cheque for insufficiency, etc. of funds in the account
139
Presumption in favour of holder
142
Payee / holder of the cheque should file a case within 1 month under Sec 138 of NI Act
Indian Companies Act (1956)
Section
11
No partnership / association can be formed with more than 20 partners. In the case of banking firms, the number shall not exceed 10.
48
A company may empower person to act as its attorney. The authorization should be in writing and under the common seal of the company.
100
A special resolution is necessary for reduction of capital of a company; further, the approval of
National Company Law Tribunal’s (NCLT) is required.
125
Charges to be filed with the Registrar of companies within 30 days from the date of creation.
130(3)
The Register of Charges kept by the Company Registrar is open for inspection by any person on payment of a fee. These facilities the prospective creditor can find out whether any charge is subsisting on the assets of the Company.
35
Modification of Charge to be filed.
38
Satisfaction of Charge to be filed.
141
If a Charge is not registered within 60 days, the company or any .Interested. party can approach NCL for registration showing satisfactory reasons for the omission.
293
If the borrowings exceed the aggregate of the paid up capital and free reserves, the (1)(d)
Borrowings should be authorized by the general meeting of the shareholders.
Sec
4 Definition of Promissory Note
5
Definition of Bill of Exchange
6
Definition of Cheque
8
Holder
9
Holder in due course
10
Payment in due course
13
Meaning of Negotiable instrument
15
Endorsement: Endorsement should be in free running handwriting and not in block letters also it should tally, letter to letter, with the name of the payee in the cheque
18
When there is difference in amount between the words and figures, the amount in words is to be treated as the amount ordered by the drawer to pay
20
Inchoate Instrument
22
Three days of grace for calculating the maturity date of usance instrument
25
Maturity date in holiday usance instrument is payable on next preceding business day
26
Minor may draw, endorse and accept a negotiable instrument so as to bind all parts except himself
31
Liability of drawee banker: Banker to compensate for wrongful dishonour
45A
Holder rights to get duplicate of lost bill
63
The drawee of a Bill of Exchange has to accept it within 48 hours of presentation (excluding public holidays)
82 I
If no rate of interest is mentioned in the Promissory Note, interest @ 18% p.a. is to be paid
85-A
Protection paying banker in case of Bank drafts.
85-(1)
Paying banker is protected by payment in due course of an order cheque which is properly endorsed by the payee or his agent
85-(2)
Protection to Paying banker in case of bearer cheques. Once a bearer, always a bearer
87
Material alteration of Negotiable Instrument renders it void
89
Paying Banker gets protection where a cheque is materially altered but does not appear to have been altered
99
Noting
100
Protest
118
Presumptions as to negotiable instruments of consideration
123
Cheque crossed Generally
124
Cheque crossed Specially
128
Payment in due course of crossed cheque
130
Not Negotiable crossing. The transferee cannot have a better title to the cheque than that of the transferor
131
Collecting Banker’s protection in respect of crossed cheques
138
Dishonour of cheque for insufficiency, etc. of funds in the account
139
Presumption in favour of holder
142
Payee / holder of the cheque should file a case within 1 month under Sec 138 of NI Act
Indian Companies Act (1956)
Section
11
No partnership / association can be formed with more than 20 partners. In the case of banking firms, the number shall not exceed 10.
48
A company may empower person to act as its attorney. The authorization should be in writing and under the common seal of the company.
100
A special resolution is necessary for reduction of capital of a company; further, the approval of
National Company Law Tribunal’s (NCLT) is required.
125
Charges to be filed with the Registrar of companies within 30 days from the date of creation.
130(3)
The Register of Charges kept by the Company Registrar is open for inspection by any person on payment of a fee. These facilities the prospective creditor can find out whether any charge is subsisting on the assets of the Company.
35
Modification of Charge to be filed.
38
Satisfaction of Charge to be filed.
141
If a Charge is not registered within 60 days, the company or any .Interested. party can approach NCL for registration showing satisfactory reasons for the omission.
293
If the borrowings exceed the aggregate of the paid up capital and free reserves, the (1)(d)
Borrowings should be authorized by the general meeting of the shareholders.
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