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Wednesday, Jul 17, 2002

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Fresh bill planned

New Delhi July 16. The Government today withdrew in the Lok Sabha a Bill to amend the Negotiable Instruments Act, which will be replaced by a fresh measure, following the Cabinet decision to double the sentence period to two years for bouncing of cheques.

The Bill, which had been introduced in July 2001, was withdrawn by the Minister of State for Finance, Anant Geete, as the Government seeks to bring a fresh amendment incorporating certain new provisions. Apart from doubling the sentence, Government also proposes to fix a time limit of six months for speedy disposal of cases.— PTI

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