In our legal system, the importance of the law relating to the Negotiable Instruments is ever increasing, in particular with the growth of business and commerce.

As is well known, a ‘cheque’ is a ‘bill of exchange’ that is readily accepted in lieu of payment of money and is negotiable. In the past few years the negotiable instruments like cheques have resulted in a spurt of litigation.

With this, several issues relating to the procedure and practice arose some of which have been pronounced upon by the Supreme Court and various High Courts.