Laws & Legal Procedure for Recovering Outstanding Debts & Unpaid Money: Lawyers Advice

At times money extended to a company or an individual becomes irrecoverable. And various provisions in the law provide for the recovery of such debts. Some of these important provisions that come to the rescue of creditors are listed below: Recovery of Outstanding Debt & Unpaid Money under the Negotiable Instruments Act, 1881The introduction of Chapter XVII containing sections 138 to 147 was done to improve the efficacy of banking operations. Another prominent reason was to prevent the payee from suffering on account of non-payment due to dishonour of cheque. On that account, Section 138 of the Act lists the...

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