IndigoLearn

Forums

All Topics Accountancy Auditing Corporate & Other Laws Direct Taxation Indirect Taxation Financial Management Economics Costing Strategic Management Maths & Stats Exams Others AFM Financial Reporting CFA Level I

Sec 148 of NI act.

Corporate & Other Laws

If drawer found guilty, if he further appeal to that decision , The payee can again claim compensation from drawer before the judgment. The amount is limited to 20% of compensation. My doubt is, This componsation means (Cheque amount+Dameges+interet) OR is it (Cheque amount+Dameges+interest-earlier compensation) received by the payee ?

AKHIL KOSHY

CA Final

★ 7K+

22-Jul-20 19:06

353

Answers (2)

Sec 148:The amount payable under this sub-section shall be in addition to any interim compensation paid by the appellant under section 143A. Sec 143A: (2)The interim compensation under sub-section (1) shall not exceed twenty per cent of the amount of the cheque. (5) The interim compensation payable under this section may be recovered as if it were a fine under section 421 of the Code of Criminal Procedure, 1973 (2 of 1974). (6) The amount of fine imposed under section 138 or the amount of compensation awarded under section 357 of the Code of Criminal Procedure, 1973 (2 of 1974), shall be reduced by the amount paid or recovered as interim compensation under this section.