The Union Cabinet on Wednesday gave its nod for promulgation of an ordinance to fast track resolution of cheque-bounce cases.
This is the second time that the Modi-led Government was taking the ordinance route on this matter—the earlier one having been promulgated in mid-June.
The ordinance route is being pursued again as the Negotiable Instruments (amendment) Bill 2015—which was passed by the Lok Sabha in the first week of August—was yet to be discussed and approved by the Rajya Sabha.
The latest ordinance _ Negotiable Instruments (amendment) Ordinance 2015 _ allows a cheque bouncing case to be filed at the place where it is presented for clearance and not where it was issued.
This is expected to ensure a ‘fair trial’ in cheque bounce cases.